Amid the developments related to agriculture, the Solvent Extractors’ Association of India (SEA) has urged the Government to strongly back the MSP (minimum support price) for mandated crops with effective policy measures and proper market action.
Sanjeev Asthana, President of SEA extended congratulations to the government in a monthly letter written to SEA members for announcing a rise in the MSP for all mandated rabi crops in the upcoming market season. He stated: This bold step, especially the significant rise rapeseed signals a clear commitment to backing oilseed farmers and strengthening domestic production. But whie this move is commendable, it is significant that the MSP is announced and strongly defended through effective policy measures. Without adequate market support and timely procurement, farmers may grapple to realise these prices, limiting the benefit of the MSP rise.
Thanks to govt for lifting ban on the exports of de-oiled rice bran
Furthermore, he extended thanks to government for removing ban on export of de-oiled ricebran (DORB), adding that this will enable in improving export opportunities, and boosting India’s position as a supportive partner in global feed markets and benefiting farmers by enhancing higher production.
Asthana stated that primary objectives of SEA delegation’s latest visit to Russia, were to evaluate the oil market landscape, visiting key processing plants and boost trade ties between Russia and India.
What about Rapseed meal exports?
He cited that recent global trade shifts have opened up chances for rapeseed meal exports to China, particularly Chinese imports from Canada battle with duties and restrictions. SEA has appealed to the Government to engage with Chinese authorities to cushion registration norms and other procedural barriers that currently restrict Indian participation. Facilitating wider access will help in decreasing domestic stock pressures, support farmers, and boost India’s position as reliable supplier in the global market.
Other ongoing challenges
Refined Oil imports from Nepal at zero duty under SAFTA are huting Indian oil refiners. SEA called for stricter rules control this fact. In addition, GST credit refunds are blocked due to tax rules, affecting cash flow and statement
Futures trading ban on key commodities such as mustard, soybean and palm oil is decreasing market efficiency and increasing risks.