Domestic oilseed crop to stabilise edible oil prices
The National Mission for Edible Oils, backed by a ₹10,000 crore allocation, aims to cut India’s edible oil imports from 60% to 30% over six years. Industry leaders highlight its role in boosting domestic production, stabilizing prices, and supporting farmers. Complemented by the High Yielding Seeds initiative, it strengthens food security and economic resilience.
Ahmedabad: The National Mission for Edible Oils, announced during the Union Budget, will help achieve self-reliance in edible oils and, in turn, help stabilise or even reduce edible oil prices, according to solvent extractors and edible oil manufacturers.Solvent Extractors Association of India (SEA) president Sanjeev Asthana said, “The Union Budget has allocated Rs 10,000 crore for a 6-year period to the national mission to reduce import dependence of edible oils from the existing 60% to 30%. SEA also demanded an allocation of an additional annual fund of at least Rs 5,000 crore for the Oilseed Development Programme.”Estimates by SEA suggest India’s annual edible oil demand is around 260 lakh tonnes, of which 160 lakh tonnes is currently imported. India’s edible oil demand is increasing by 3% annually.
Industry insiders say govt’s renewed push for self-reliance in edible oils is a crucial step toward reducing India’s import dependence. Priyam Patel, MD, NK Proteins Pvt Ltd, said, “This will empower farmers with better seeds, infrastructure, and access to credit.” The National Mission on High Yielding Seeds announced in this budget further complements this vision by improving productivity and climate resilience. “Together, these initiatives will stabilise edible oil prices and boost domestic production. With the added tax relief for the middle class, higher disposable incomes will drive demand, benefiting both agriculture and the food industry.”
To read more about Edible Oil News continue reading Agriinsite.com
Source : The Times Of India
