SunSirs: India Plans to Increase Domestic Rapeseed and Palm Oil Production
August 28 2024 11:05:36 SunSirs (Selena)
India is the world's second largest consumer of edible oil and the top importer of vegetable oil. 58% of the annual consumption demand of approximately 24 million tons is met through imports. Sources estimate that domestic consumption of edible oil in India may increase to around 30 million tons in the next three to four years.
The Indian government's oilseed production plan aims to increase crop yields, expand planting areas, and introduce a dynamic import tax structure to protect domestic prices from the impact of cheap imports.
India currently uses Minimum Supported Prices (MSP) to purchase oilseeds such as rapeseed, soybeans, and peanuts from farmers. According to the Indian Financial Express, the Indian Ministry of Agriculture has identified 600 blocks in 347 regions across 20 states to increase oilseed yields, particularly for crops such as rapeseed, peanuts, soybeans, and sesame.
By introducing high-yield varieties, establishing seed centers and storage facilities, the yield of oilseeds in India will increase from the current 1.35 tons/hectare to 2.11 tons/hectare by 2030.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
