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General and Process
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Oils are substances derived from plants that are
composed of triglycerides. Nominally, oils are liquid at
room temperature
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the processing of edible oils, the oil is heated under
vacuum to near the smoke point, and water is introduced
at the bottom of the oil. The water immediately is
converted to steam, which bubbles through the oil,
carrying with it any chemicals which are water-soluble.
The steam sparging removes impurities that can impart
unwanted flavors and odors to the oil.
Market
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India
accounts for 9.3 per cent of world oilseed production. It has the
world's fourth largest edible oil economy. Yet, about 43 per cent of
edible oil available in India is imported.
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India
ranked as the world's largest importer of edible oils, displacing China.
The bulk of edible oil India imports under the Open General Licence (OGL)
is RBD palmolein of Malaysian and Indonesian origin.
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In
most parts of the world, import duty on oilseeds is lower than that on
oils. But, in India, it is higher: 40 per cent. That is why no import of
oilseeds or oil-bearing material has taken place in India. The industry
wants the duty to be lowered from the present 40 per cent to 5 per cent.
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Edible
oils prices in the Indian market have crashed due to large imports by
multinational trading houses.
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The
edible oils industry is one sector in India that will see considerable
reform in the foreseeable future.
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The
government has banned export of edible oil for one year to check rising
domestic prices and control inflation. The ban will be in place till
March 16, 2009.
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Edible
oil has a weightage of 2.76% in the wholesale price index (WPI) -
higher than cement (1.73%), wheat (1.38%) and rice (2.45%).
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