Consider the following statements regarding economic

Solution

India meets 60 per cent of its edible oils demand through imports, making it vulnerable to international movements in prices. For instance, sunflower oil, which makes up 15 percent of our total edible oil imports, is procured mainly from Ukraine and Russia. Hence, statement 1 is correct. Out of 60% of the edible oils consumed in the country through imports, palm oil constitutes around 54% of the total edible oil imported mainly from Indonesia and Malaysia, while Soybean oil constitutes around 25% and is imported from Argentina and Brazil and Sunflower oil constitutes 15% and is imported mainly from Ukraine and Russia. Hence, statement 3 is incorrect. Statement 2 is self-explanatory from image. Hence, statement 2 is not correct