The move is expected to bridge the shortfall in domestic supplies.
According to Suresh K Reddy, ambassador of India to Brazil, enhancing the sourcing of edible oils and pulses from the South American country would introduce "competition and better pricing," helping improve domestic supplies.
Currently, India imports about 58% of the country's consumption of cooking oils and 15% of pulses, respectively. Imports of these commodities are mostly from Indonesia, Malaysia, Canada, Australia, Ukraine, Myanmar, Mozambique and Malawi.
This story is from the December 21, 2024 edition of Financial Express Chennai.
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This story is from the December 21, 2024 edition of Financial Express Chennai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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