'C' welcomes decision to launch National Mission on Edible Oil-Oilseeds

04-Oct-2024 07:41 PM

Mumbai. Solvent Extractors Association of India (C), a leading organization of the indigenous vegetable oil industry and trade sector, has welcomed the decision of the Central Government to launch a new National Mission on Edible Oil-Oilseeds with a fund of more than Rs 10 thousand crores and said that the country is in dire need of this.

The association had been trying to convince the government for this for a long time. Actually, the demand and consumption of edible oils in the domestic sector is continuously increasing rapidly,

but the production of oilseeds is not increasing accordingly, hence the dependence on the import of foreign edible oils has increased significantly and a huge amount of money is also being spent on this.

According to the association, at present more than 60 percent of the domestic demand and need of edible oils has to be met through imports from abroad, which is a matter of deep concern.

It is necessary to reduce this dependence as soon as possible. Domestic production of oilseeds is limited and the edible oil industry is not getting the opportunity to fully utilize its gross accumulated production capacity.

The target set by the government under the oilseed mission is very ambitious and if this target is achieved, then India will have very little need to import edible oil from abroad.

The government has set a target to increase the domestic production of oilseeds to 97 lakh tonnes and the production of edible oils to 202 lakh tonnes by the year 2030-31. A provision of Rs 10103 crore has been made for the mission.