In this regard, the Solvent Extractors’ Association (SEA) has sent a representation to the government on behalf of the edible oil industry. Further, SEA has sought help from department of food and public distribution and department of economic affairs. A copy has been sent to both the departments for referral on December 16, 2015.
SEA has put forth certain facts which can support the needed revision of WPI. The release issued by SEA states, “In Wholesale Price Index, weightage for edible oils is 3.04293 % under food articles fixed in 2004-05. Secondly, the total consumption of edible oil during 2014-15 was approximately 200 lakh tonne, out of which vanaspati consumption was just 8.0 lakh tonne, which comes to nearly 4.6%. However, based on WPI 2004-05, the percentage weightage is 23.50%.”
It adds, “Similarly, current palm oil consumption is nearly 45% of the total consumption of edible oils, however, the weightage is given hardly 0.41999% and the same is the case for other oils.”
The release points out, “There is wide variation in consumption pattern of various oils within edible oil group and its proportionate weightage. We, therefore request you to examine and review the weightage of edible oil in WPI due to change in consumption pattern and price in last 12 years and particularly weightage of individual oils within edible oil weightage.”
