Commodities

Govt must use MSP as a tool to incentivise oilseed production: SEA

Our Bureau. Mangaluru | Updated on June 21, 2021

The Solvent Extractors’ Association of India (SEA) has said the MSP (minimum support price) as a tool should be used to incentivise the production of commodities such as oilseeds, as India has deficient production of these commodities.

Welcoming the announcement of the Centre to increase MSP on some kharif crops, Atul Chaturvedi, President, SEA of India, said, “MSP as a tool should be used to incentivise production of commodities such as oilseeds in which the nation is deficient, while disincentivising commodities such as wheat and rice which are burdening our storage system.”

He said it is equally important that MSP is defended by maintaining the local prices through higher import duty, so that the market forces can pay the remunerative price to the farmers for the oilseeds, and the government does not have to step in for procurement.

 

Referring to the FSSAI order prohibiting the use of mustard oil in manufacture of multi-source edible vegetable oil (MSEVO) with effect from June 8, he said MSEVO marketing with mustard oil is meagre and does not pose any threat.

Edible oil imports

The import of edible oil at nil duty under SAFTA agreement from Nepal is creating havoc across the country and the SEA has requested the government to route these imports through public sector undertakings such as NAFED and distribute it through public distribution system.

Published on June 21, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor