When consumed as part of a balanced diet, palm oil is no more harmful than other edible oils. It has nearly equal proportions of saturated and unsaturated fats and is rich in antioxidants.
In April, Indian buyers opted to cancel large amounts of palm oil purchases for the first time in many years and industry was expecting May imports could fall to 700,000 tonnes.
Survey by LocalCircles also found that 17% were cutting discretionary spending to afford the oil and 1 in 2 households are dipping into savings to buy it.
At 3-day meet in Bhopal, Bharatiya Kisan Sangh slammed palm oil for being ‘unhealthy’, not ‘atmanirbhar’ & overusing water. It urged govt to promote local oil seeds, demanded MSP panel.
Prices of palm oil are up 15% this year to a record, while rival soybean oil has jumped 12%, putting a strain on India, the top buyer of palm, soybean and sunflower oils.
Ukraine is India's biggest supplier of sunflower oil. Any escalation in Russia-Ukraine tension is likely to hit edible oil prices in the country as 70% of its requirement is imported.
According to Solvent Extractors’ Association of India, diverting land from rice & wheat production in Punjab, Haryana can increase production of edible oil in India by 25 lakh tonnes.
India is witnessing record-high inflation in edible oil prices. Food Secretary says country can produce up to 18-19 lakh tonnes of rice bran oil, up from current 11 LT.
The current Iran war has laid bare a fundamental reality: 20 per cent of global energy trade cannot afford to rely on a single artery, no matter how resilient and cost-effective.
Regulator seeks feedback on allowing firms to repurchase shares via exchanges after tax changes, as markets reel from war-led selloff and foreign outflows.
It’s easy to understand why the government can’t speak the hard truth. When this war ends, as all wars do, India’s interests will lie with both the winner and the loser.
Even food-literate people consume alcohol, saturated fat, sugar, and smoke marijuana/tobacco.