MTECHTIPS

MTECHTIPS:-India govt subsidy for Pulses, Edible Oils as production scenario grim

India Government has announced this year's subsidy rates for pulses and edible oils as there are prospects for a fall in the production that may in turn fail to cater to demand signals. India's subsidy for pulses this year would be Rs 20 a kg and for edible oils, Rs 15 a litre, acccording to K.V. Thomas, Union Minister of State for Consumer Affairs, Food and Public Distribution.The ministry is “slightly worried” about the pulses and edible oil production situation in the country. Even internationally, availability is slightly low he added. States would also be allowed to import pulses and edible oils for distribution which will be subsidised by the Central Government.India’s edible oil imports are likely to touch the 10 million tons (mt) mark in marketing year (MY) 2011-12, which runs from November 2011 to October 2012. Edible oil imports during the 10 month period from November 2011 to August 2012 rose by 20.7% to 7.98 mt.The overall import of vegetable oils during November 2011 to August 2012 is reported at 8,162,545 tons compared to 6,860,843 tons which is up by 18.97%. Import of vegetable oils (edible & non-edible) during first ten months of current oil year indicates 18.97% increase according to Solvent Extractors Association.