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Pre Budget WishList News

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(21 Jan 2025, 17:17)

Govt needs to aim at reducing import dependency in edible oil sector says SEA


The Solvent Extractors’ Association of India (SEA) has submitted its Pre-Budget Memorandum for 2025-26 to the Ministry of Finance, Ministry of Commerce, Ministry of Consumer Affairs, Food & Public Distribution, Minister of Commerce & Industry, Minister of Agriculture & Farmers Welfare, Minister of Road Transport & Highways, and the Minister of Finance. A key focus of the memorandum is strengthening the oilseed sector to boost domestic productivity, reduce dependence on edible oil imports, and ensure self-sufficiency in edible oils.

In the last 3 decades, the edible oil and oil seeds scenario has undergone a vast change. Our dependence on imports which was only 3% in nineties has gone to approximately 60% currently. The main reason for this dismal state of affairs is that oilseed production has remained almost stagnant, while demand has been rising. The oilseed production is stagnant at around 35 million tons and the productivity at 900-1000 Kg. per hectare.

Currently, India is importing about 160 Lakh Tonnes of edible oils valued at over Rs.1.4 Lakh Crores. The “National Mission on Edible Oils” needs to be implemented with an outlay of Rs.25,000/- Crores for the next five years to sizably reduce our dependence on imported edible oils to 25-30 % by 2029-30 from the current level of 60%. This is the cause of concern to Government and industry.

SEA Pre- Budget Memorandum 2025-26 is aligned with the Hon’ble Prime Minister’s vision of "Atmanirbhar Bharat" and "Make in India", aiming to enhance domestic production, create employment opportunities, and reduce import dependency in the edible oil sector.


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