The correct answer is Option 1: 1 only.

Statement 1 is correct. According to the data provided by the Ministry of Agriculture and Farmers Welfare, the production of edible oils in India during the last five years (2016-17 to 2020-21) has been lower than the quantity of edible oils imported during the same period. For example, in 2020-21, the production of edible oils was 7.22 million tonnes, while the quantity of edible oils imported was 15.29 million tonnes. This indicates that the quantity of imported edible oils is more than the domestic production of edible oils in the last five years.

However, Statement 2 is incorrect. The Government of India imposes customs duty on imported edible oils. The rate of customs duty varies depending on the type of edible oil and the country of origin. For example, as of September 2021, the customs duty on imported crude palm oil was 10%, while the duty on imported refined palm oil was 37.5%. Similarly, the customs duty on imported soybean oil was 35%, while the duty on imported sunflower oil was 30%. These rates are subject to change depending on the policies of the government.

In conclusion, only Statement 1 is correct, and Statement 2 is incorrect.