The Solvent Extractors’ Association of India (SEA) has welcomed the approval of the National Mission on Edible Oil (Oilseeds). Congratulating the government for this decision, Sanjeev Asthana, President of SEA, said this mission is expected to elevate domestic edible oil production to over 25 million tonnes (mt) by 2030-31.
In a statement, he said SEA been pursuing the government to set up a National Mission to increase the production and productivity of oilseeds in country to meet the ever increasing domestic consumption of edible oil.
Stating that over 60 per cent of edible oil requirement is now met through imports, he said it is a cause of deep concern to the government due to large outflow of foreign exchange as well as on the food security front. The edible oil industry also has spare unutilised capacity due to lack of sufficient quantity of oilseeds for processing.
“We are happy to note that the Union Cabinet has approved long-standing demand of industry and decided the allocation of ₹10,103 crore for the National Mission on Edible Oils – Oilseeds,” he said, adding, this initiative, which is set to span over the next six years, aims to boost the production of oilseed crops to 69.7 mt by 2030-31. This visionary step by the government reflects its commitment to boosting India’s agricultural productivity and safeguard our economic sovereignty, he said.