Palm Oil Crisis in India's FMCG Sector – A Sustainability Dilemma
DOI:
https://doi.org/10.69974/glskalp.04.04.80Keywords:
Sustainable, Palm oil, Crisis, DilemmaAbstract
The FMCG companies in India and world over relies heavily on Palm oil as one of the core ingredients is going through difficult times. Oil Palm plantations have resulted in phenomenal ecological damage and biodiversity in southeast Asian countries which played a significant role in socio-economic development of the local community earlier. The supply chain disruptions along with pressing environmental or social concerns have negatively affected the balance sheets of Indian FMCG companies who was already under the strain of foreign currency fluctuations due to high import dependency. The government has initiated multiple programs under National Mission on Edible Oil to develop prospective solutions to resolve the crisis through sustainable palm oil agricultural practices as supporting environmental norms yet profitable outlook for self-consumption, leveraging government subsidies, inputs and technology through research and knowledge transfer. The study suggests the best competitive strategic measures which can be adopted.
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