Edible oil focus would help achieve self-sufficiency: SEA

The Solvent Extractors Association of India (SEA) has hailed the Union government for its plan to promote important oilseeds like mustard, groundnut, sesame, soybean and sunflower to achieve Atmanirbharata in the oilseed. He said the move will help the country significantly reduce its oil import bills.

Terming the Atmanirbhar Oil Seeds Abhiyan as a visionary strategy, SEA President Ajay Jhunjhunwala said the plan would include important aspects like research of high-yielding varieties, widespread adoption of modern farming techniques and creation of market linkages acquisitions, value added and crop insurance. “We have requested finance minister Nirmala Sitharaman for adequate financial support for successful implementation of Atmanirbhar Oil Seeds Abhiyan. According to him, our goal is to reduce the current dependence on edible oil imports from 60 percent to 30 percent in the next five years.

India imports about 150 lakh tonnes of edible oil every year, valued at over Rs 1.35 lakh crore. In the Budget speech on Thursday, the Finance Minister said that the government is formulating a strategy to achieve atmanirbharta for oilseeds such as mustard, groundnut, sesame, soya and sunflower.

“This includes research on high-yielding varieties, widespread adoption of modern farming techniques, market linkages, procurement, value addition and crop insurance” “We also wanted the government to promote private sector partnerships with companies involved in the oilseeds extension program and research activities. This collaborative approach will complement the government’s efforts and go a long way to increase production and productivity of oilseeds in the country”. The edible oil industry wanted the government to introduce a comprehensive program to support dairy and fish producers..

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