The Ministry of Consumer Affairs has notified amendments to the Vegetable Oil Products Production and Availability (Regulation) Order 2011 under the Essential Commodities Act 1955.
The amendments aim to enhance transparency, prevent supply disruptions and ensure fair prices in India’s edible oil sector.
India is the world’s largest importer of vegetable oils.
Palm oil accounted for 59 per cent of imports, followed by soybean at 23 per cent and sunflower at 16 per cent.
Import dependence decreased from 63.2 per cent in 2015-16 to 54.9 per cent in 2021-22.