Nafed Procures Record 8.75 Lakh Tonne Oilseeds Till July

The oilseeds and copra were purchased under the price support scheme by the organisation, Nafed said in a statement here.

Nafed has procured approximately five lakh metric tonne of soyabeans, 2.5 lakh tonne of mustard seed, 75,000 metric tonne of copra, 50,000 metric tonne of sunflower seed, and 16,000 metric tonne of safflower seed during kharif 1999 and rabi 2000, making it the highest procurement in two decades by the organisation, it said.

The procurement of copra by Nafed is still continuing, the release said, adding Nafed was also working in collaboration with state agencies of Andhra Pradesh and Karnataka in market intervention scheme to provide relief to farmers of oil palm.

Last kharif, owing to cheap availability of imported edible oils, the prices of oilseeds and indigenous oils had plummetted to an all-time low. The prices of commodities like soyabean and mustard seeds, had also plummetted down, causing distress to oilseed growers.

To provide relief to farmers, Nafed had undertaken large purchases of oilseeds under the price support scheme, the release added.