Edible oil industry body SEA disappointed over no hike in import duties on cooking oils
The Solvent Extractors’ Association (SEA) urged the government to allocate sufficient funds to boost domestic oilseed production. However, the industry body expressed disappointment over the unchanged import duties on cooking oils in the recent Budget. Finance Minister Nirmala Sitharaman emphasized the goal of achieving self-sufficiency in pulses and oilseeds through enhanced production, storage, and marketing. The interim budget announced a strategy to achieve ‘atmanirbharta’ (self-reliance) for oilseeds like mustard, groundnut, sesame, soybean, and sunflower.
NEW DELHI: Edible oil industry body SEA on Wednesday said the government should provide adequate funds for achieving its target to boost domestic production of oilseeds but expressed disappointment that import duties on cooking oils were not increased in the Budget.
In her budget speech on Tuesday, Finance Minister Nirmala Sitharaman said, “For achieving self-sufficiency in pulses and oilseeds, we will strengthen their production, storage and marketing.”
As announced in the interim budget, a strategy is being put in place to achieve ‘atmanirbharta’ for oil seeds such as mustard, groundnut, sesame, soybean and sunflower, she had said.
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