<b>India at a Glace</b><br/>Indian is the world's fourth largest vegetable oil economy and is a leading imporet of vegetable oil in the world. during 2006-07, the European Union was the world's largest importer of 17 types of various edible oil at 10 million tones, followed by China at 8.6 millions tonnes, and India in the third place at 5.4 million tonnes, Eacgh year, Indioa consumes arround 12 to 12.5 million tonnes of various edible oils.<br/><br/><b>Edible Oil Market</b><br/>Edible Oil Market India is the world's fourth laregst vegetable oil economy and is a leading importer of vegetable oil in the world. During 2006-07, India ranked third in toatl edible oil imports by any country with an import volume of 5.4 million tones.<br/><br/><b>Import Regulations</b><br/>Oilseeds and edible oils are two of the most sensitives essential commodites in India. India imports a large volume of edible oil each year to meet its consumptions which ahs shown a steady incline over the past decade. To regulate, monitor and controle the edible oil imports, Government of India has enacted several laws and regulation that fall under Ministry of Health and Family Welfare, ministry of consumer Affairs and Publics Distrbutions and Customs under Ministry of Finance. Some the regulations are disctssed below under the Following sections.<br/><br/><b>CIRECTO GENERAL OF HEALTH SERVICES DEPARTMENT OF HEALTH (DH) MINISTRY OF HEALTH AND WELFARE(MHFW),GOVERMENTS OF INDIA(GOI)<br/><br/><b>Trade Date</b><br/>Edible oil production in MY 2007/08 is forecasted to increase from this year to 6.9 million tons, due to anticipated larger crush availabilty of mainy rapeseed, soyabean and cottonseed. Edible oil consumption for MY 2007/08 is forecast at 11.8 million tons with expected import dependence of 41 percent. Meanwhile, MY 2006/07 edible oil imports are astimated at 5.2 million tons whith 3.5 millions tons and 1.5 million tons of palm oil and soyabean oil imports respectively. The Government of India(GOI) has reduced the imports duties on edible oils by withdrawing the special additonal duty, while the basic imports duties for sunflower oil and palm oil have also been lowered in anticipation of low domestic oilseeds production and hiegher international prices. The edible oil impotrs from October 2006 - April 2007 are shown below. A percent cahnge over the same period during 2005-06 is also shown in the section of this table.
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