The Solvent Extractor&rsquo;s Association of India (SEA), led by its president Sanjeev Asthana, has appealed to the Finance Minister to prioritize the implementation of the National Mission on Edible Oil. The association has proposed allocating Rs 25,000 crore annually for the next five years to make India self-sufficient in edible oils and reduce dependence on imports, which currently account for 60% of the country's consumption.
Edible Oil Sector: Key Challenges Over the past 30 years, India&rsquo;s edible oil sector has witnessed stagnation in oilseed production, which remains at around 35 million tonnes, with productivity stuck between 900&ndash;1000 kg per hectare. Consequently, imports of edible oils have surged to 160 lakh tonnes annually, valued at over Rs 1.4 lakh crore.
Goals of the Mission The proposed mission aims to reduce import reliance from 60% to 25-30% by 2029-30. To achieve this, SEA has emphasized critical policy measures to boost oilseed cultivation and align domestic production with consumption.
Edible Oil Consumption Survey The Union Agriculture Ministry&rsquo;s survey on edible oil preferences via the "MyGov" platform is a commendable initiative. By understanding consumer behavior, farmers can be encouraged to grow crops in line with market demand, facilitating self-reliance.
Revising the Wholesale Price Index (WPI) The SEA has suggested updating edible oil weights in the WPI to reflect current consumption patterns. It notes shifts such as the decline in Vanaspati usage and the rise in soybean oil consumption. NITI Aayog's working group, led by Prof. Ramesh Chand, has assured consideration of these recommendations.
Balancing Imports and Domestic Production The influx of refined edible oil from Nepal under SAFTA's zero-duty provisions is harming domestic refiners. SEA has urged the government to find a balanced solution that protects farmers and processors while honoring trade commitments.
Export Challenges for Oilmeal India&rsquo;s soybean meal exports have grown but face stiff global competition, while rapeseed meal exports to Bangladesh have encountered obstacles. SEA stresses the need for measures to boost oilmeal exports amidst these challenges.
Implementing the National Mission on Edible Oil and allocating Rs 25,000 crore annually could transform India into a self-reliant edible oil producer, reducing the financial strain of imports while boosting rural agriculture and the economy.
<div class="MsoNormal" align="center"><hr align="center" size="0" width="100%"></div>

Rs 25,000 crore annually urged to make India self-reliant in edible oil production

Push for National Edible Oil Mission in Budget 2025

Rs 25,000 crore annually urged to make India self-reliant in edible oil production

January 24, 2025 | 12:27 IST