Govt targeting enhancing domestic production of oilseeds

The government is targeting to enhance domestic production of oilseeds and edible oil and aims to bring more acreage under their cultivation, Rajya Sabha was informed today.
Commerce Minister Nirmala Sitharaman said the government is also looking at greater oilseeds growth in the country to help reduce dependency on import of edible oil.
"If there is so much dependency on imported edible oil, Government is definitely having plans to extend increasing the acreage under palm and oilseeds cultivation," The Minister said replying to supplementaries.
Sitharaman said the growing dependency on imported edible oil is an issue of serious concern for the government and "it is looking at greater oilseeds growth in the country".

She said government has also adopted a balanced duty structure on imported edible oil, including palm oil which is the cheapest edible oils on productivity per hectare.
The Minister said only last month the farmers were paid record procurement prices of Rs 7,888 per metric tonne for palm oil in order to encourage palm cultivation in the country.
"While edible oil imports are required to briidge the gap between domestic production and consumption, consistent with the emphasis on self sufficiency in edible oils, Government policy is targets enhanced domestic production of oilseeds and edible oil through steps like bringing more areas under oilseeds cultivation, improving productivity of oilseeds cultivation, tapping new sources of edible oil and market intervention through Minismum Support Price," the Minister said in her written reply.