THE CHANGING LANDSCAPE OF PALM OIL BUSINESS IN INDIA
2
VIEWS
by Bhavna Shah
Over the last three decades there has been a gradual change with the introduction of palm oil into India. Slowly, palm oil has gained primacy in the consumption pattern of Indians. Consumption is estimated to have increased by around 250% over the last two decades. This has propelled India into becoming the world’s largest buyer and consumer of palm oil. More than a sixth of the global palm oil consumption is by India. This is due to palm oil being considered as a cheap cooking oil alternative. The sizable percentage of the Indian population lives below the poverty line. A major portion of their earnings is spent on day to day consumption. A cheap cooking oil alternative like palm oil has been a God sent opportunity to repair house hold budgets. What is noteworthy in this context is that policy makers are aware of changing eating habits of the populace and their gravitating toward palm oil. With this is mind, we have seen governmental action of trying to boost domestic production of palm oil in a big way.
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