Tridge summary
The Ministry of Agriculture in India has planned to lease 550,000 hectares of agricultural land for oilseed cultivation from September 2020 to September 2021, aiming to produce approximately 900,000 tons of oilseeds, including rapeseed, soybeans, and other varieties. This initiative is part of the National Oilseed Project and involves ten oil refineries entering into agreements with farmers for 'contract cultivation,' where the refineries will provide necessary inputs and purchase the harvested oilseeds directly.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
10/14/2020 A total of 550,000 hectares of agricultural land will be used for oilseeds from September 2020 to September 2021, which will allow harvesting about 900,000 tons of various oilseeds, which is 50% more than in the past. The increase will occur in connection with the National Oilseed Project of the Ministry of Agriculture. “Based on the plan of the Ministry of Agriculture and provided that farmers participate in it, it is assumed that 600,000 tons of rapeseed will be harvested from 350,000 hectares, 200,000 tons of soybeans from 100,000 hectares and 100,000 tons of other oilseeds [including sunflower, safflower and sesame seeds] from 100,000 hectares of farms across the country, ”IRNA quotes Alireza Mohajer. The official added that this year, 10 oil refineries signed memorandums of understanding with the Ministry of Agriculture, under which they can sign contracts with farmers directly to purchase their products through "contract cultivation." “The aforementioned ...
Source: Oilbranch
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