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In a bid to resolve the groundnut stockpile crisis in Gujarat, the Chairman and top officials of the Indian Oilseeds & Produce Export Promotion Council (IOPEPC) will conduct an interactive meet on Saturday with the stakeholders in Rajkot.
Apart from senior officials of the Union Ministry of Commerce, top officials from National Agricultural Cooperative Marketing Federation of India Ltd (Nafed), groundnut oil traders and processors will also attend the meet.
In a statement issued by IOPEPC, Sanjay Shah, Chairman of IOPEPC, said, "This is an important meeting for groundnut processors, crushers/oil millers, exporters and traders so that a suitable mechanism can be discussed for the release of groundnut stocks lying with Nafed."
The meet is likely to provide an opportunity to discuss the terms of the tender and relaxation as required by the groundnut processors and crushers. It will also address the apprehensions of trade vis-a-vis quality issues as well.
Nafed, which procured huge quantities of groundnut at the declared prevailing MSP to assist farmers, is keen on discussing issues to further facilitate the supply of stocks to millers/processors and exporters at reasonable prices.
Santosh Kumar Sarangi, Joint Secretary, EP (Agri), Ministry of Commerce & Industry, and Sanjeev Kumar Chadha, Managing Director, Nafed, will also attend the meet.
“Despite the bumper crop, our exports have declined. Groundnut exports have declined to 5.03 lakh tonnes during 2017-18 from 7.25 lakh tonnes in 2016-17. In value terms also, the decline is from Rs 5,444 crore to Rs 3,384 crore. This is a cause for worry for exporters and the government," the IOPEPC chief said.
Release of Nafed stocks at viable levels will result in higher supply leading to lower prices at the domestic market, he added.
IOPEPC had earlier recommended to the government to consider granting 5% MEIS incentives for groundnut for crushing on job work basis. The Rajkot-based groundnut oil body, Saurashtra Oil Mills Association, had also demanded for State support for utilising the stored groundnut for crushing and processing.
"We requested the State Government to allow oil millers and processors to take up job work for crushing and processing for the government. Edible oil and peanuts produced from this can be utilised for mid-day meal schemes and sold under PDS. There is a need for proactive measures from the Government," Samir Shah, President, SOMA, had informed in May.
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