India plans to boost oilseed output, cut imports

게시됨 2024년 8월 26일

Tridge 요약

The Indian government is taking steps to increase the country's domestic oilseeds production in order to reduce its reliance on edible oil imports, which currently account for 58% of the country's consumption needs. The government plans to improve yields, expand cultivation areas, and implement a dynamic import duty structure to protect domestic prices from cheap imports. Additionally, they will ensure the procurement of oilseeds at minimum support prices from farmers. The government also aims to increase domestic palm oil production and extend a lower import duty structure for crude oil imports until 2025. India's edible oil imports hit a record 16.47 MT in the 2022-23 oil year, valued at Rs 1.38 trillion.

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원본 콘텐츠

In an attempt to reduce India’s high dependence on edible oil imports, the government is looking to boost domestic oilseeds production. The plan is to increase yields, expand the area under cultivation and introduce a dynamic import duty structure so that domestic prices are not impacted by cheaper imports. The government is also making arrangements for the assured procurement of oilseeds such as mustard, soybean and groundnut at the minimum support price (MSP) from farmers as promised by the agriculture minister Shivraj Singh Chouhan. Sources told FE that the agriculture ministry has identified 600 clusters across 347 districts in 20 states to boost the productivity of oilseeds, especially mustard, groundnut, soybean, sesame, and niger seeds. ‘Through the introduction of high-yielding seed varieties and creation of seed hubs and storage facilities, we expect to boost oilseeds yield from 13.5 quintal/hectare currently to 21.1 quintal/hectare by 2030,’ an official said. India is ...

출처: UkrAgroConsult