Coconut Oil Crisis: SEA Urges Government for Short-Term Import Permission
The Solvent Extractors Association (SEA) is calling on the government to permit temporary imports of coconut oil and copra to mitigate domestic price volatility. Prices have tripled over the past year, jeopardizing consumer loyalty and prompting shifts to alternative oils. SEA warns of a prolonged impact if action is delayed.
- Country:
- India
The Solvent Extractors Association (SEA) made an urgent appeal to the government on Friday, pushing for temporary imports of coconut oil and copra to curb domestic price fluctuations. Coconut oil prices have surged, tripling within a year, compelling consumers to turn to alternative oils such as palm and sunflower.
SEA emphasized the need for immediate government intervention, proposing a 6-12 month import allowance to stabilize the market. Coconut production in India has been under pressure due to pest issues, resulting in a 40% yield drop, SEA reported.
The association cautioned that consumer loyalty to coconut oil might be permanently affected, leading to increased dependency on imported oils. SEA reiterated their stance to Agriculture Minister Shivraj Singh Chouhan, Commerce Minister Piyush Goyal, and Food and Consumer Affairs Minister Pralhad Joshi, highlighting the urgency of the situation.
(With inputs from agencies.)
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