The Hindu Business Line : Solvent extractors seek development package

This has been sought so it that would encourage production and productivity to meet the growing demand for cooking oils and reduce dependence on imports.

In a letter to the Finance Minister, Mr P. Chidambaram, the Food and Agriculture Minister, Mr Sharad Pawar, and the Minister of State for Food Processing Industries, Mr Subodh Kant Sahai, the association’s President, Mr Ashok Sethia, said though the solvent extractors had pleaded for a package during Budget, none of the issues raised by them had been addressed.

Disappointment

“The industry had pleaded for establishment of Oilseeds Development Fund to raise production and productivity; weighted income tax deduction for Oilseed Extension Programme; declaring oil palm as plantation crop like tea, coffee to help the industry invest in agricultural land for growing the oil crop; and amending the Agricultural Produce Marketing Committee Act for free movement of agricultural produce,” he said.

Though the Budget, in general, was good, the oilseed sector was disappointed to be left out, Mr Sethia said, adding that the oilseed sector required attention since the country could not be heavily depend on imports of cooking oils, as it is now.

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