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New Delhi, Dec 27 () Edible oil industry body SEA on Friday urged the government to not reduce the import duty on crude palm oil (CPO) to 30 per cent from the existing 40 per cent as it will affect domestic oilseed growers.
 The industry body also urged the government to not reduce the duty differential between CPO and refined palmolien to 7.5 per cent from existing 10 per cent in line with the ASEAN agreement, which is likely to kick in from January 1, 2020.
 In a statement, the Solvent Extractors Association of India (SEA) said there are reports that the Vanaspati Industry Association has demanded a reduction in CPO import duties to 30 per cent.
 "If this demand is accepted by the government it would seriously hurt the oilseed farmers without being beneficial to the industry," it said.
 The National Mission of Edible Oil, which is targeting about 50 million tonne oilseed production in the country in next three to five years, would also be jeopardised, it added.
 "We suggest the duty differential between CPO and refined palmolien be raised to 15 per cent or minimum 10 per cent as at present without in any way reducing duties," the SEA said.
 Currently, oilseeds are selling above Minimum Support Price (MSP) which augurs well for the future of oilseed production as the right price signals are going to farmers, it added.
 SEA further said, "Over the years, India has seriously compromised its edible oil security which has resulted in dependence on imports growing to almost 70 per cent."
 The main reason for stagnant oilseed production has been lack of interest among oilseed farmers due to poor returns.
 Palm oil shipments comprise 63 per cent of the country's total vegetable oil imports. India imported 94.09 lakh tonnes of palm oil in the 2018-19 marketing year (October-November). LUX RVK

SEA urges govt to not cut import duty on crude palm oil

New Delhi, Jan 1 () The government on Wednesday slashed import duty on refined palmolein from 50 per cent to 45 per cent, while that on crude palm oil (CPO) from 40 per cent to 37.5 per cent with immediate effect, a move that the industry opposed saying it will hurt domestic refiners.
 A notification in this regard has been issued by the finance ministry.
 The duty cut has been made under the ASEAN agreement and the India-Malaysia Comprehensive Economic Cooperation Agreement (IMCECA), the notification added.
 Opposing the move, the Solvent Extractors' Association of India (SEA) said that after the reduction in import duty, the tax difference between CPO and refined palmolein has reduced from 10 per cent to 7.5 per cent.
 "This will have serious impact on domestic palm oil refining industry and oilseeds farmers. We fear import of refined palmolien would increase and capacity utilisation of our industry would be affected leading to potential loss of employment," SEA Executive Director B V Mehta said in a statement.
 After a long time, the domestic oilseeds had started selling their produce above the minimum support price (MSP). "Lower import duty would make it difficult to defend MSP and the new found enthusiasm of the oilseed farmers would be dampened," he said.
 The country's edible oil imports are now touching 70 per cent of the consumption. The duty cut would be counterproductive and contrary to the government's stated objective of increasing domestic oilseed production, he added.
 Asserting that India too should protect the interest of farmers like Malayasia and Indonesia, the SEA said Indonesia from January 1 has imposed export duty of USD 50 on CPO and USD 30 per cent on refined palmolien.
 Similarly, Malaysia has imposed export duty of USD 31 per cent on CPO and zero duty on refined palmolein which work out to be nearly 5 per cent on CPO value, thus effective duty difference is hardly 2.5 per cent only.
 "We strongly appeal to the government to increase the duty differential between CPO and refined palm oil to 15 per cent, by taking appropriate measures," the industry body added. LUX HRS

Govt cuts import duty on crude, refined palm oils under ASEAN, IMCECA pacts

<ul><li>The total rain from south west monsoon has been 40% less than the average.</li><li>The deficit is as high as 56% in south India and farmers have been asked to avoid sowing for crops like rice that need a lot of water.</li><li>Central India comes a close second with a rain deficit of 41% until June 19.</li><li>The crisis in rural India may become a significant factor in the upcoming budget.</li></ul> India is already suffering from a severe water shortage in many parts of the country and the rain Gods have not been merciful yet. That would put pressure on the Narendra Modi government, particularly on Finance Minister Nirmala Sitharaman, ahead of the upcoming budget to ensure the rural distress in the country does not worsen any further. The total rain from south west monsoon has been 40% less than the average. The deficit is as high as 56% in the southern peninsula --Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, and Goa. The central parts of the country, states like Madhya Pradesh, Maharashtra and Chhatisgarh, come a close second with a rain deficit of 41% until June 19. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 The shortage is therefore the worst in the rice growing areas and therefore the farmers have either delayed or reduced the sowing of crops like rice, sugarcane and cotton, all of which need a lot of water, according to government data. This is part of the government's contingency plan in the 648 worst-hit districts of the country. What's worse, farmers have <a href="https://economictimes.indiatimes.com/industry/indl-goods/svs/chem-/-fertilisers/fertilisers-to-turn-10-costlier-as-potash-rates-rise/articleshow/69657956.cms" data-type="tilCustomLink" target="_blank">to pay up to 10% more for fertilisers</a> this sowing season, than what they paid last winter, thanks to a rise in global prices for potash due to stronger demand, the key raw material, and a weaker rupee. Tractor sales Expectations of a poor monsoon also affect the purchase of farm equipment like tractors. The impact has been visible already in the 15% fall in tractor sales in May compared to the same time last year. That's bad news for Mahindra and Mahindra, which makes nearly 31% of its revenue from tractors alone and things have been far from rosy for a while now. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 The gloomy expectations have been evident in the share price too, which has lost over 31% in the last one year. 
 
 
 
 
 
 
 
 
 
 
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 All eyes are now on the budget, and both the country's millions of farmers as well as companies like M&amp;M hope for some sort of relief package that soften nature's blow on the rural economy. There are some encouraging signs with the President Ram Nath Kovind announcing a ₹25 trillion fund to protect the rural economy. The income guarantee scheme of ₹6,000 a year has been extended to the country's 145 million farmers. India has also appealed to China to lower tariffs on agricultural exports from India. Rural consumption has already slumped sharply and a poor monsoon may only worsen it. The government will have to think of other measures to support the economic recovery. SEE ALSO: <a href="https://www.businessinsider.in/there-is-a-lot-of-bad-news-that-modi-has-to-budget-for-this-year/articleshow/69635372.cms">There is a lot of bad news that Modi has to budget for this year</a> <a href="https://www.businessinsider.in/modi-government-sets-up-two-cabinet-panels-to-check-falling-gdp-employment/articleshow/69670523.cms">Modi government sets up two cabinet panels to check falling GDP, employment</a>

The shortfall in rains is the worst in South India and it will affect rice and oilseeds production as well as tractor sales

The Centre should create a buffer stock of mustard seeds of at least 2.5 million tonnes, like pulses, to enhance domestic production and reduce imports of cooking oils, the <keyword id="1086632" type="General" weightage="20" keywordseo="central-organization-for-oil-industry-and-trade" source="Orion">Central Organization for Oil Industry and Trade</keyword> (<keyword id="1598377" type="General" weightage="20" keywordseo="cooit" source="Orion">COOIT</keyword>) said on Tuesday as part of its wish list ahead of the budget. "The procurement for the proposed creation of buffer stock should be made at market price at the very beginning of crop season, which will ensure oil processing units would operate throughout the year," the COOIT, an apex body for the vegetable oils sector, said in a statement. It also wants the government to widen the gap between import duties of crude edible oils and refined edible oils. India imported edible oils worth Rs 1.17 lakh crore, an all-time high, in the 2020-21 oil marketing year ended October, mainly due to a sharp rise in global prices. COOIT feels that its high time the central and state governments focus on increasing domestic production of oilseeds. "We urge the government to launch a dedicated scheme in the upcoming budget with a significant allocation to encourage farmers for cultivation of various oilseeds crops like mustard, soyabean and sunflower," COOIT chairperson Suresh Nagpal said. The government had in August 2021 launched the National Mission on Edible Oils - Oil Palm (NMEO-OP) with a financial outlay of Rs 11,040 crore to boost domestic production of palm oil. "A similar initiative should be undertaken to increase the cultivation of mustard," he said. "Like wheat and rice, a small quantity of <keyword id="589337" type="General" weightage="20" keywordseo="mustard-oil" source="Orion">mustard oil</keyword> can be supplied every month to over 80 crore beneficiaries covered under the National Food Security Act at a subsidised rate. This will prompt farmers to cultivate mustard," the COOIT chairperson said. The government has offered an increased MSP for mustard this year and the results have started showing with the area under mustard cultivation likely to increase by 25 per cent and mustard production estimated to be at 110 lakh tonnes. "If the government creates a buffer stock of 25 lakh tones of mustard, it will further encourage mustard cultivation and also act as a price stabilization mechanism in case of sharp fluctuations in mustard prices as it was witnessed during 2021," Nagpal said. The association also strongly said that the difference between import duty on crude edible oils and refined edible oils should be larger to protect the interest of domestic processors. Earlier the difference was 11 per cent, which is now at 5.5 per cent. "This is adversely impacting crude palm oil (CPO) refining industry in India and hence, duty differential needs to be increased,a the statement said. Established in 1952, COOIT is the national apex body representing the interests of the entire vegetable oil sector in the country and its members include state-level associations, prominent manufacturing/business, trade, and export house. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/decline-in-car-bike-and-scooter-sales-is-now-hurting-hdfc-bank/articleshow/88960539.cms" style="">Shrinking car and two-wheeler sales is now hurting India’s biggest private bank</a>\ <a href="https://www.businessinsider.in/careers/news/8-in-10-people-are-looking-to-switch-jobs-in-2022-linkedin-says/slidelist/88966651.cms">8 in 10 Indians are looking to switch jobs in 2022</a>

Centre should create buffer stock of mustard: Oil industry association

<keyword id="161914" type="General" weightage="20" keywordseo="godrej-agrovet" source="Orion">Godrej Agrovet</keyword> was allotted about 47,000 acres of land in Sangareddy district in Telangana for oil palm plantation, the company said in a release on Tuesday. Allocated by Telangana's Department of Agriculture and Cooperation (Horticulture and Sericulture), the allotted area will be utilized by the company to expand the cultivation of oil palm and set up processing units. Recently, Godrej Agrovet inaugurated an edible oil refinery at Chintalapudi in the Eluru district "We are delighted to receive additional district in the fresh allotment released by the Government of Telangana. It is a testimony of GAVL's commitment and efforts to boost oil palm plantations and promote farmer prosperity in the region. We would like to thank Government of Telangana for their support and commitment to this initiative which will benefit the farmers," said Balram Singh Yadav, Managing Director, Godrej Agrovet. The company has an expertise of more than three decades in the oil palm business. The Telangana government has set a target to extend the cultivation of oil palm across 20 lakh acres in the state. A total of ₹1,000 crore is proposed in the Budget for 2023-24 for oil palm cultivation. India is the world's second-largest consumer and number one <keyword id="451493" type="General" weightage="20" keywordseo="vegetable-oil" source="Orion">vegetable oil</keyword> importer, and it meets 60% of its need through imports. A large part of it is palm oil and its derivatives, which are imported from Indonesia and Malaysia. Although oilseed production in India has grown over the years, the production has lagged behind its consumption, resulting in continuous dependence on imports.

Telangana govt allots Godrej Agrovet 47,000 acres for oil palm plantation

New Delhi, Apr 1 () To ensure adequate supply of cooking oil in the country, industry body SEA on Wednesday suggested various measures such as fast customs clearances for imported crude edible oil by exempting mandatory testing in food regulator FSS's approved lab at Baroda, Gujarat. It has sought electronic passes for transportation of crude and refined edible oils across the country without any hurdles at state borders. Ban on sale of loose edible oil, permission to buy oilseeds directly from farmers at factory gate and smooth movement of packaging and other raw materials required by processing units were also recommended by the Solvent Extractors' Association of India (SEA).The association's President Atul Chaturvedi has written a letter to Consumer Affairs Secretary Pawan Kumar Agarwal, suggesting ways to boost supply of edible oils.India's total consumption of edible oils is about 230 lakh tonnes, out of which domestic production is about 75 lakh tonnes and imports about 150 lakh tonnes. "Any dislocation in smooth flow of imported oils can have serious repercussions in the country," Chaturvedi said. He mentioned that a large quantity of crude edible oil is being imported at Kandla and Mundra ports on west coast."The issue is that FSSAI designated customs officers draw samples from ship tanks and send for testing at FSSAI approved laboratory at Baroda where the FSSAI designated laboratory tests the samples and provides reports."Only after the reports are received the imported oil is cleared by customs.With complete lockdown and restrictions on movement this situation results in inordinate delay disturbing supply chain big time," the letter said. To overcome this problem, Chaturvedi suggested that all crude edible oil vessels should be cleared immediately on a simple undertaking from importers that it would be sold only after refining.Alternately, he said there are certain NABL accredited laboratories at Kandla/Mundra whose services can be utilised to expedite things.The SEA said Kandla and Mundra ports handle 30-40 per cent imported crude edible oils and refined at processing units around these ports. Chaturvedi demanded national permit for multi-state transport of cooking oil, by issuing the electronic pass which should be respected by all state authorities."As a matter of fact we would suggest e-pass should be issued to all port based refineries likeKakinada, Krishnapatnam, Mumbai, Hazira, Haldia, Mangalore, Haldia, Kolkata, Tuticorin, Chennai and Paradeep etc," he said. Talking about domestic supplies, the SEA said currently edible oil units are partially functioning with 40-50 per cent capacity with all due precautions. "Demand has shifted to household )consumption ( small packs) hence supply of raw material/packing material to these units should be resolved," he said.The SEA President said that it was important that state border check posts should be adequately sensitised to allow passage of edible oil lorries /tankers without harassment. Empty returning lorries should also be allowed to pass unhindered."We would also suggest banning sales of loose edible oils to consumers to ensure safety in these difficult times," Chaturvedi said. "Currently, all marketing yards ( mandies ) are closed leading to shortage of raw material. We suggest, exempt oilseeds crushing /processing units (oil millers and solvent extraction units) from APMC to enable them to purchase oilseeds at their factory gate directly from farmers. This help the farmer to market his produce," the letter said. The SEA President opposed decisions by local authorities in some states to fix prices of cooking oils. MJH MKJMKJ

SEA suggests measures to ensure adequate cooking oil supply in country

Mumbai, Mar 5 () Maharashtra's economy is expectedto grow at 5.7 per cent during 2019-20, marginally down fromthe last fiscal's projection of six per cent, the EconomicSurvey presented in the state Legislature on Thursday said.The agriculture and allied activities are expected togrow at 3.1 per cent in 2019-20, it said.The survey said the industry and services sectors areexpected to grow at 3.3 per cent and 7.6 per cent in 2019-20,slower than the previous fiscal's 5.5 per cent and 8.1 percent respectively.The average share of the state's contribution is 14.3per cent among all the states in the All India nominal GDP, itsaid.Nominal GSDP is expected to increase by Rs 2,45,791crore in 2019-20 as compared to 2018-19.The per capita state income in 2019-20 is expected tobe Rs 2,07,727.The GSDP in 2019-20 is expected to be Rs 28,78,583crore, it added.The growth rate of the agriculture and allied sectorin 2018-19 was negative (-2.2) per cent. In 2017-18, thegrowth rate was -0.7 per cent.The revenue deficit in 2019-20 is Rs 20,293 crore,fiscaldeficit Rs 61,670 crore and the debt stock was Rs4,71,642 crore, the report said.The percentage of fiscal deficit to GSDPis 2.1 percent and debt stock to GSDP is 16.4 per cent.Both the indicators are within the fiscal limitsprescribed by the 14th Finance Commission.The state witnessed average rainfall of 73.6 per centof the average during 2018-19, less by 10.7 per cent in 2017-18.In2018-19,the production of food grains and fruits,and vegetables decreased by 27.3 per cent and 10.1 per centrespectively, whereas sugarcane, oilseeds and cottonincreased by 8 per cent, 16.1 per cent and 8.2 per centrespectively over the previous year.The survey said the unemploymentratein January toMarch 2019 was 8.3 per cent as compared to 9.6 per centinOctober to December 2018.Total 37,567 offences were reported in the state in2019, in which women were victims, as compared to 35,497 in2018 and 31,997 in 2017, the report noted.FDI inflows in 2019-20 was Rs 25,316 crore, which isless as compared to Rs 80,013 crore in 2018-19 and Rs 86,244crore in 2017-18.Maharashtra was second in the country after Karnatakain terms of FDI in 2019-20, it said.The state received 112.6 per cent rainfall during themonsoon of 2019.Of the 355 talukas, excluding Mumbai city and suburbs,152 talukas received excess rainfall, 182 got normal rainfalland 21 received deficient rainfall, the survey report said.During the kharif season of 2019-20, sowing wascompleted on 149.61 lakh hectare area.Production of cereals, pulses, oilseeds and cotton isexpected to increase by nine per cent, three per cent, one percent and 24 per cent respectively, while the production ofsugarcane is expected to go down by 36 per cent as compared tothe previous fiscal.During 2019-20, the area under rabi crops is 50.87lakh hectares, which is 5.6 per cent more as compared toprevious year.Theproduction of cereals and pulses is expected to goup by 43 per cent and 23 per cent respectively, while theproduction of oilseeds is expected to decrease by 24 per cent.The survey said that Mahatma Jyotirao Phule FarmWaiver Scheme 2019 has been approved (by the MVA government)to waive overdue loans borrowed between April 1, 2015 andMarch 31, 2019 up to Rs two lakh, including the principalamount and the interest, as on September 30, 2019.The state government has provided Rs 15,000 croreduring 2019-20 for its implementation.Irrigationpotential created as one June 30, 2019 bymajor, medium and minor irrigation (state projects) was 51.23lakh hectares and the actual irrigated area was 35.97 lakhhectares (70.2 per cent) during 2018-19, it said.The irrigation potential created as on June 30, 2019by minor irrigation (local sector) projects was 18.96 lakhhectares and the potential utilised was 8.49 lakh hectares(44.8 per cent) during 2018-19.Unseasonal rains during October-November 2019 due tocyclones Kyarr and Maha, affected agriculture and horticulturecrops from 349 talukas in 34 districts, the report said.Compensation for Rs 8,000 per hectare for agriculturecrops and Rs 18,000 per hectare for horticulture crops wassanctioned, the report said. MRNP NP

Maha's economy to grow at 5.7% in 2019-20: Economic Survey

In a bid to contain <keyword id="2928960" type="UNKNOWN" weightage="100" keywordseo="price-rise-of-onions">price rise of onions</keyword>, the Indian Government extended the ban on holding its stock beyond permissible limit by one year. 
 The <keyword id="120170" type="ORGANIZATION" weightage="100" keywordseo="Cabinet-Committee-on-Economic-Affairs">Cabinet Committee on Economic Affairs</keyword> (CCEA), headed by Prime Minister Narendra Modi, took the decision, which empowers states to impose stock limits on traders for holding onion and ban hoarding beyond the set limit. 
 
"The CCEA today approved the stock holding limit order on onion by another year. This will enable state governments take effective de-hoarding measures under the Essential Commodities Act (ECA), 1955," sources told news agency PTI. 
 
The direction comes in wake of rising prices of onions in wholesale and retail markets. The prices are increasing due to sluggish supply of good quality onions. 
 
Also, to curb spike in onion prices in upcoming days due to supply shortage, the government has already increased the minimum export price of the commodity to $425 per tonne and is also planning to import some quantities of onions to boost domestic availability, reported PTI. 
 
Apart from onions, pulses, edible oils, oilseeds, rice and paddy also come under the ambit of stock holding limits order. 
 
As per the data provided by the Government, India's onion production is estimated to have declined to 189.23 lakh tonnes in the 2014-15 crop year, as against 194 lakh tonnes in the previous year. 
 
(Image: Indiatimes)

You Searched For "oilseeds production india" and got 8 results

SEA urges govt to not cut import duty on crude palm oil

PTI

Govt cuts import duty on crude, refined palm oils under ASEAN, IMCECA pacts

PTI

The shortfall in rains is the worst in South India and it will affect rice and oilseeds production as well as tractor sales

Sriram Iyer

Centre should create buffer stock of mustard: Oil industry association

IANS

Telangana govt allots Godrej Agrovet 47,000 acres for oil palm plantation

ANI

SEA suggests measures to ensure adequate cooking oil supply in country

PTI

Maha's economy to grow at 5.7% in 2019-20: Economic Survey

PTI

Ban on hoarding onions beyond ceiling extended by one year

BI India Bureau

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