The two-day national conclave on soyabean commenced here on Saturday at Brilliant Convention Centre. Experts from the industry across the country gathered to shed light on issues plaguing the soya industry.

Addressing the inaugural session of the conclave, the Soyabean Processors Association of India (SOPA) Chairman Davish Jain stressed the need of unleashing a golden revolution in the country on the lines of white and green revolutions so as to increase oilseed production in the country and reduce the dependence of India on imports which, according to him, meet 65 per cent the country’s oil requirement.

Describing India as a global dumping ground for oil, Jain said increasing import of oils is keeping farmers stay away from soyabean cultivation. While on the one hand, soyabean production has been witnessing an uptrend globally, Indian output during the the past 2-3 years has been on the decline because of erratic monsoon.

The SOPA Chairman said that after petroleum products, the government is spending the maximum foreign revenue on import of edible oils and that uncontrolled imports have badly affected the soyabean industry and soybean production in the country.

Jain also urged the government to create an Oilseed Development Fund and charge customs duty at the rate of ₹3 per kg for the Oilseed Development Fund. This will help the ODF create a fund of ₹22,500 crore in the next five years. With the money to be generated through this fund, “we can increase oilseeds production in the country and in the next 10-15 years, India may achieve a self-sufficiency in oilseeds,” he added.

Jain also urged the Union Government to increase the import duty on sunflower and canola oil so as to make a level playing field for the soyabean industry in the country.

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