Oilseeds boomed this season: 2020-21

This year, everything is rolling in favor of oilseeds that could lure growers to plant crops such as soybean, groundnut, sesame, or sunflower. The surge in oilseeds prices this year has seen an encouraging trend along with govt initiatives. Stakeholders in the oilseed sector are optimistic about the Kharif season sowing prospects, expecting a rise in the acreage.

30,181 Oilseed Stock Photos | Free & Royalty-free Oilseed Images |  Depositphotos

According to Solvent Extractors Association of India (SEA) data, landed prices of palm group of oils have increased by 76.5-93.5 %, degummed or crude soyabean oil rates by over 83 %, and those of crude sunflower oil by over 76 % currently compared to last year.
In addition, the Centre has been coming out with policies and other measures, such as free distribution of seed mini-kits for intercrops to promote the planting of oilseeds. The special Kharif program will bring an additional 6.37 lakh hectare area under oilseeds and is likely to produce 120.26 lakh quintals of oilseeds and edible oil amounting to 24.36 lakh tonne.

Oilseeds crop production likely to be affected seriously: Solvent  Extractor's Association of India - The Economic Times

One of the major reasons for it to encourage farmers to take up oilseeds cultivation is that India imports nearly 2/3rds of its edible oil demand with over ₹80,000 crores foreign exchange spent on it. Also, the country has become surplus in foodgrains from its initial efforts to become self-sufficient to meet any emergencies.

According to the fourth advance estimate, oilseeds production is estimated at 240.32 lakh metric tonnes (LMT) for 2020-21 with a target of 255.45 LMT. For this year, oilseeds such as soybean and groundnut have emerged as favorites among farmers for sowing.

Farm worker spraying pesticide in a mustard field at Mayong village in Morigaon district, in the northeastern state of Assam, India on December...

Conclusion 

We need to have more dynamic MSP-consumer price-linked import duties for oilseeds so that it can drive the country towards achieving self-sufficiency in the edible oil sector. There can be an active scheme to promote sunflower cultivation in different agro-climatic conditions. Sunflower MSP can be increased so that farmers are encouraged to try this crop.

More Articles for You

Commodity Outlook – Mustard Seed

Sowing period: October to DecemberHarvesting period: February to AprilCrop season: Rabi Key growing regions: Rajasthan – Ganganagar, Alwar, Tonk, Baran …

Better Ways to make Cotton Crop Better

Cotton plants are a tropical crop raised as a Kharif crop in India. It requires uniformly high temperatures between 21°C …

Commodity Outlook – Castor Seed

Sowing period: July to OctoberHarvesting period: December to MarchCrop season: Kharif Key growing regions: Gujarat – Deesa, Mehsana, Banaskanth, Patan, …

agriPay by agribazaar

“Cash payment is a thing of the past when digital payments are making the waves now.”  With multiple technological innovations …

Agribazaar x SOPA: International Soy Conclave 2021

SOPA (The Soybean Processors Association of India) is the only national-level body representing the soybean processors, farmers, exporters, and brokers …

Commodity Outlook – Wheat

Sowing period: OctoberHarvesting period: April to MayCrop season: Rabi Key growing locations: Madhya Pradesh – Ujjain, Ratlam, Dhar, Sehore, Indore …

WhatsApp Connect With Us