It is necessary to curb the massive import of edible oils

28-Nov-2025 09:00 PM

Mumbai. India has long been the world's largest importer of edible oils, and its annual imports have risen to nearly 16 million tons. This massive import is costing billions of dollars, placing significant pressure on the national economy or foreign exchange reserves.

Although the government is continuously striving to increase domestic oilseed production, there is no sign of a significant decline in edible oil imports. Imports peaked at 16.6 million tons in the 2022-23 marketing season,

declining to around 15.9 million tons in the 2023-24 marketing season, but again increased to over 16 million tons in the 2024-25 marketing season (November-October). Palm oil imports declined sharply in the 2024-25 marketing season, while soybean oil imports reached a peak.

This situation is considered worrying for the domestic oilseed and oil industry. The massive import of cheap foreign edible oils is directly impacting farmers, forcing them to struggle to secure a profitable price for their oilseeds.

The Union Agriculture Minister himself is dissatisfied with this situation. He argues that the interests of oilseed producers, along with those of ordinary consumers, should be considered when determining import duties.

Due to the significant decline in domestic market prices of soybeans and peanuts, the government has been forced to intervene in the market to purchase them in large quantities at the Minimum Support Price (MSP).

Analysts say that a situation should be created in which the domestic oilseed industry has no hesitation in purchasing the entire crop from farmers at the MSP.