India: The edible oil crisis

[GliderGuider]

http://www.business-standard.com/opinionanalysis/storypage.php?leftnm=lmnu5&subLeft=&autono=280547&tab=r">Edible oil crisis

At 23.3 million tonnes, this year's production of edible oils is below the 24.4 million tonnes harvested even a decade ago.

An edible oil crisis is around the corner though policy planners do not seem to realise this. The oilseed production has dropped this year by a whopping 17 per cent to 23.26 million tonnes, falling below 24.38 million tonne harvested a decade ago in 1996-97. The dependence on imports for meeting the needs, which was a mere 3 per cent in the early 1990s, has shot up to over 40 per cent. What adds to the worry is that the edible oil availability in the international market is likely to dwindle due to the large scale diversion of these oils to bio-fuel production. This may make it difficult even to import enough edible oils.

The signals are out there. Is anyone going to listen?