| Date: |
01-03-2011 |
| Subject: |
Budget Buzz: Allocation of 300 crore For Oil Palm Plantations Will Be The Measure To Reduce Edible.. |
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The current proposal will help us to make a road map to reduce the dependence of imported edible oil. In order to bridge the gap between demand and supply, India is compelled to import a large quantity of edible oils.
During November, 2009 to October, 2010 (2009-10) country imported about 86 lakh tonnes of edible oil worth Rs. 35,000 crores, a huge burden on exchequer next to crude petroleum products and gold. It is therefore very essential to increase the availability of vegetable oils from domestic resources by encouraging diversification of land from food grains to oilseeds.
India's oilseeds production has already reported strong surge in the current year . As per second advance estimates of Ministry of Agriculture , India's oilseed production is seen at 27.85 million tonnes in 2010-11 against 24.92 million tonnes in the previous crop year.
Source : indiainfoline.com
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