Substantial increase in the import of palm oil has impacted the fortunes of coconut oil. A quantity of 10,84,933 tonnes of RBD palm oil was imported during the period November 2011 to May 2012, registering 97 per cent increase over the import done during the corresponding period last year. Crude palm oil import between November 2011 and May 2012 was of the order of 64,692 tonnes, which registered an increase of 82 per cent over the corresponding period last year.
Subsidy
The Union government has been extending a subsidy of Rs.15 per kg for the edible oil distributed through the Public Distribution System, which has also contributed to the lower prices of coconut oil in the domestic market.
‘Lift ban on export’
Lifting of the ban on export of coconut oil would be a positive step to help the coconut oil industry and the farmer at large, according to a statement issued by the Coconut Development Board.
