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AgroPolicy, Foodgrains, Pulses

Stresses on the need of a policy initiative to regulate retail prices of pulses

India Pulses and Grains Association (IPGA) – the nodal body for pulses and grains trade and industry in India – has sought to initiate immediate measures to curb the skyrocketing prices of pulses and grains in the retail market. According to IPGA, retail prices have been traditionally higher than wholesale prices. However, each time a surge in prices is reported, wholesale traders end up bearing the brunt of inflation whereas retailers are it online or offline, organised or unorganised, are seldom under the spotlight.
 
While there could be a variety of reasons for the difference, the government or Department of Consumer Affairs needs to take a closer look at the same. At present, there is no regulation on retail prices of pulses leading to an indiscriminate surge in prices leaving the end-consumer to pay exorbitant prices for pulses and grains – which are necessities in any Indian household. IPGA firmly believes that the need of the hour is to regulate retail prices of pulses and grains, on an urgent basis so that consumers reeling under severe inflation can get some relief.
 
IPGA has been monitoring retail, wholesale and ex-mill prices of pulses and grains from time to time. IPGA, in June 2021, conducted a study of pulse prices on retail shelves of organised and unorganised retail stores across Delhi, Mumbai, Kolkata and Chennai wherein teams physically purchased pulses from retail outlets. The survey showed that the price spread between wholesale and retail prices is fairly large.
 
IPGA believes that the government is targeting the wrong sector. They are focusing on the traders whereas they need to conduct in-depth scrutiny and monitoring of the gap between the wholesale and the retail prices. They also need to see at what price is NAFED selling their stocks. Even the RBI Annual Report has pointed out the vast difference between wholesale and retail and yet the government is taking action at the wholesale level or trader level or the stockist level whereas the rally is taking place at the retail level where the government is not taking any action.

IPGA strongly urged that the government or Department of Consumer Affairs devise a process by which the pricing is suitably adjusted to be in sync with wholesale prices. There has to be some mechanism, some checks and balances which the government has to devise, through thorough in-depth research.
 
IPGA also takes this opportunity to request media houses to desist from writing contradictory articles. Media houses need to check prices across various points of sale i.e. mandis, mills, wholesale markets, online sales and retail stores before reporting them or blaming the traders for high prices.

Stresses on the need of a policy

AgroPolicy

The initiative will boost the income of tribals and bamboo-based economy in Rajasthan

Khadi and Village Industries Commission (KVIC) has launched a project named ’Bamboo Oasis on Lands in Drought’ (BOLD), a first-of-its-kind exercise in India. The initiative was launched recently from the tribal village Nichla Mandwa in Udaipur, Rajasthan.

 

5000 saplings of special bamboo species – BambusaTulda and BambusaPolymorpha specially brought from Assam – have been planted over 25 bighas (16 acres approx) of vacant arid Gram Panchayat land. KVIC has thus created a world record of planting the highest number of bamboo saplings on a single day at one location.

 

Project BOLD, which seeks to create bamboo-based green patches in arid and semi-arid land zones, is aligned with PM’s call for reducing land degradation and preventing desertification in the country. The initiative has been launched as part of KVIC’s ’Khadi Bamboo Festival’ to celebrate 75 years of independence ’Azadi ka Amrit Mahotsav.’ KVIC is set to replicate the Project at Village Dholera in Ahmedabad district in Gujarat and Leh-Ladakh region by August this year. A total of 15,000 bamboo saplings will be planted before August 21.

 

KVIC Chairman Vinai Kumar Saxena said the green patches of bamboo on these three places will help in reducing the land degradation percentage of the country, while on the other hand, they will be havens of sustainable development and food security.

 

Member of Parliament Arjun Lal Meena said the bamboo plantation program in Udaipur will boost self-employment in the region. He said such projects will benefit a large number of women and unemployed youths in the region by connecting them to skill development programmes. KVIC has judiciously chosen bamboo for developing green patches. Bamboos grow very fast and in about three years, they could be harvested. Bamboos are also known for conserving water and reducing evaporation of water from the land surface, which is an important feature in arid and drought-prone regions. 

 

The initiative will boost the income of

Finance, Machinery - Pre-harvesting

Sonalika Tractors is fully geared up to launch maximum new tractors even in FY’22

Sonalika Tractors has quashed all records to clock the highest ever Q1 cumulative tractor sales at 33,219 units and registered 30.6 per cent growth.

The tractor industry-led India’s recovery from the front after the first-ever lockdown in the year 2020 and Sonalika Tractors posted a dominant performance throughout the year while outpacing the industry growth consistently. Carrying forward the momentum of FY’21 to launch maximum revolutionary products, Sonalika Tractors is fully geared up to launch maximum new tractors even in FY’22. Sonalika’s upcoming technologically advanced tractors will create new benchmarks in the industry as they will be equipped with extraordinary features to lead the Agri evolution in India as well as abroad.

Speaking on the dominant performance, Raman Mittal, Executive Director, Sonalika Group, said, “The utmost priority of Sonalika Tractors is to develop advanced technologies and farm mechanisation solutions that enable farmers to earn a better livelihood. It is in Sonalika’s DNA to never shy away from its responsibilities and whenever the company has come across any complex situation, it has kept farmer’s needs at the forefront and innovated aggressively to overcome the challenges. I want to thank farmers for their unshakeable faith in our customised heavy-duty tractor range. This faith has made us grow stronger and faster as we have registered highest ever Q1 cumulative tractor sales at 33,219 units with 30.6 per cent growth even during the testing times of COVID-19.” 

Sonalika Tractors is fully geared up to

Agrotech, Start ups, Webinar

The primary focus of the series is to advance the importance of technology in the agriculture space

CropIn, in association with Think and HSBC, recently conducted a webinar on ’Digitizing Crop Insurance’ as a part of the AgFin Tech Series, Digitizing Agri-Finance & Insurance. The primary focus of the series is to advance the importance of technology in the agriculture space. CropIn’s tagline ’Re-imagining Agriculture with Data,’ outlines how technological innovation in agriculture can serve the marginalised in diverse ways, especially when supported by strong financial institutions.

The chief guest for the event was Rajesh Meena, Registrar, Co-operative Dept, Government of Bihar and was moderated by Dr Kolli N Rao, Senior Advisor, IRICBS. The session started with an opening remark from  Hemendra Mathur, Co-Founder, ThinkAg and Venture Partner, Bharat Innovation Fund. Along with Kunal Prasad, Co-founder and COO, CropIn, the webinar was conducted in the presence of industry stalwarts like Azad Mishra, Sr Vice President for Rural and Agri-business Group, HDFC Ergo GIC; Ashish Agrawal, President, and Head, Agribusiness, Bajaj Allianz GIC; Mangesh Patankar, VP & Head of Agriculture Reinsurance India, Swiss Re; Apoorva Tatia, Head – Rural, Crop & Health Underwriting, Reliance General Insurance, and Pushan Mahapatra, President, Strategic Investments & Head of Open Market, SBI General Insurance. The insightful session ended with a closing remark from Jitesh Shah, CRO, CropIn.

The panellists addressed and discussed the need to drive financial inclusion and progressive digital strategy for farmer prosperity using advanced technologies at an economic scale and develop need-based Agri-insurance products/models for insurers, farmer-beneficiaries, and government agencies.

Commenting on the webinar, Meena said, “It was a great session, focusing on one very important aspect of agriculture i.e. agri insurance and how it can be made more comprehensive with the use of the latest technology available at our disposal. Interaction with various stakeholders particularly the professionals working in the field of insurance was a great initiative.”

Partnerships of insurers and AgFinTech players for enhancing the efficiency of marketing and distribution for agri-insurance products through seamless service integrations were also a topic of discussion. The house also agreed that the union of Agtech & Rural Insurance is a successful formula for financial inclusion and farmer prosperity.
 

The primary focus of the series is

Agrotech, Finance, Seeds

The acquisition strengthens Solvay’s existing seed care portfolio in bio-based, seed-applied solutions; enables reinvestment opportunities for Bayer

Solvay and Bayer have recently announced the successful closing of Solvay’s previously announced acquisition of Bayer’s global Coatings Business, with facilities in Méréville, France, and tolling operations in the US and Brazil. The business is recognised globally for seed coating and seed enhancement products such as Peridiam, fluency powders, Certop, Pro-Ized Pigment, and Talkum, and its research and development capabilities for on-seed formulations. The Méréville facility’s entire product portfolio, R&D projects and the business line’s international tolling operations are now fully transferred to Solvay.
 
The Méréville facility has 36 permanent employees and conducts industry-leading research and development of application technologies for seeds, such as seed coating and filming processes, representing around 20 per cent of the site’s activity, while the remaining 80 per cent is dedicated to research and formulation of aqueous solutions called film-coaters. The film coaters developed at the Méréville site are exported and used in 35 countries.

Seed coatings can best be understood as the ’glue’ that allows any seed treatment product to bind to the actual seed. In combination, the active ingredient that is coated on the seed helps to protect seeds against insects and diseases that could prevent the seed from germinating or growing. Seed treatments are especially important for field crop seeds such as wheat, rapeseed, maize, sunflower, rice and soya, and vegetable seeds such as beetroot.
 
Solvay will remain a strategic partner for Bayer’s seed activities thanks to exclusive supplier status for film-coating to be used for Bayer SeedGrowth products on Bayer Seeds for at least five years.
 
Bayer and Solvay are committed to a smooth transition to ensure that customers will have uninterrupted access to the seed coating and seed enhancement products in the countries where they are currently sold.

The acquisition strengthens Solvay’s existing seed care

Agrotech, Start ups

The fund will be utilised to tackle Ghana’s food import problem

Ghana-based agribusiness start-up Green Gold Farms has completed raising $1.6 million from Absa Bank Ghana, Diaspora Capital, Channel Ventures, EPMT Fund, and several early-stage seed investors.

 

The capital raised will allow Green Gold Farms to invest primarily in capital equipment to scale up production of organic and non-GMO crops such as maize and soybeans; generate large numbers of well-paying, sustainable jobs; and launch an out-grower programme for smallholder farmers. The company has partnered with local communities to secure over 60,000 acres of fertile land in the Northern and Eastern Regions of Ghana. The company will use its huge land concessions to engage in commercial-scale food production and, in the process, create tens of thousands of jobs, boosting the regional and national economies.

 

Green Gold Farms is also developing an innovative out-grower scheme that allows smallholder farmers to lift themselves out of poverty by training them on regenerative agriculture best practices, enabling them to produce on larger plots of land, and providing them with all of the necessary inputs and mechanisation.

 

Over time, the company aims to cede its primary production to these smallholder farmers and move up the value chain into processing and, eventually, into manufacturing. The company is attempting to develop and scale a sustainable food production model in partnership with the public and private sector that can be applied to developing countries around the world to help lift billions of people out of poverty and to do it in an environmentally sustainable manner.

The fund will be utilised to tackle

AgroPolicy, Agrotech

The new centre will play a significant role in boosting the development of horticulture in this region

The Ministry of Agriculture and Farmers Welfare, Government of India has opened a centre in Madhya Pradesh. Narendra Singh Tomar, Union Minister of Agriculture & Farmers Welfare inaugurated the new Centre of National Horticulture Board (NHB) at Gwalior.

Madhya Pradesh, which is the second-largest state in the country, is rapidly diversifying into the horticulture sector for the last few years. It is the third-largest producer of vegetables in the country and the fifth-largest producer of fruits.

Speaking on the occasion, Tomar said, “The horticulture segment has become the sunrise sector for the state. The Gwalior Division of Madhya Pradesh is geographically located in the Northern part of the State. Gwalior and Chambal divisions correspond to the Gird region of Madhya Pradesh.”

Given the huge potential of horticulture in the state of Madhya Pradesh, the new Centre of National Horticulture Board will play a significant role in boosting the development of horticulture in this region. With the opening of the centre of NHB at Gwalior, farmers not only from the Gwalior Division but also from 21 districts of Northern Madhya Pradesh including the Grid region of Gwalior and Chambal will be benefited under the schemes of the National Horticulture Board.

Tomar added, “As of now National Horticulture Board had only one centre in Madhya Pradesh at Bhopal. However, keeping in view the huge geographical area of the state and physical distances of several districts and areas from Bhopal, farmers usually find it very difficult to avail the benefits of the schemes of NHB and technical guidance concerning the latest development in the horticulture sector.”

Madhya Pradesh Food Processing Minister (Independent Charge) Bharat Singh Kushwaha and Gwalior MP, Vivek Narayan Shejwalkar thanked the union agriculture minister for opening the NHB centre in the Gwalior region.

MD of NAFED Sanjiv Chadha, MD of NHB Rajbir Singh, Union Agriculture Secretary Sanjay Agarwal along with other officials virtually joined the event.

The new centre will play a significant

Agro Universities, Poultry, R&D

The developed technology can ensure nutritious, palatable, convenient and ready-to-reconstitute meat products to the consumers

The ICAR-Indian Veterinary Research Institute, Izatnagar, Bareilly, Uttar Pradesh has received a patent (No. – 370161) for utilisation of spent hen meat for preparation of instant soup mix. The team of inventors include – Dr Palanisamy Gokulakrishnan and Dr Sanjod Kumar Mendiratta of the Livestock Products Technology Division of the Institute.

In the invention, an improved process was standardised for the preparation of instant soup mix using the spent hen meat, starch, spices and condiments. The developed technology can ensure nutritious, palatable, convenient and ready-to-reconstitute meat products to the consumers. The prepared instant soup mix when packaged in Aluminium foil-LDPE laminate pouches (Al foil 15µ – LDPE 40µ), had a shelf life of > 3 months at room temperature.

However, when reconstituted in cold water (Soup Mix: water; 1:13), stirred and brought to boil has good sensory qualities in terms of appearance and colour, consistency, flavour, meat flavour intensity and overall palatability. It is high in protein content (>26 per cent) and low in fat (<2 per cent).

The developed technology can ensure nutritious, palatable,

Finance, Machinery – Post-harvesting

Domestic sales in June 2021 were at 46875 units, as against 35844 units during June 2020.

 

 Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), part of the Mahindra Group, today announced its tractor sales numbers for June 2021, which indicate a clear growth path in the upcoming season.  

Domestic sales in June 2021 were at 46875 units, as against 35844 units during June 2020. Total tractor sales (Domestic + Exports) during June 2021 were at 48222 units, as against 36544 units for the same period last year. Exports for the month stood at 1347 units.  

Commenting on the performance, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 46875 tractors in the domestic market during June 2021 with a growth of 31 per cent over last year. The sharp fall in Covid-19 cases and resultant easing of related restrictions, arrival of timely monsoon, increase in MSP rates for key kharif crops and continued strong Government support to all agri activities is giving a very strong momentum to tractor demand. We continue to remain optimistic about the progress of the monsoon and tractor demand in the coming months. In the exports market, we have sold 1347 tractors with a growth of 92 per cent”.

 

 

Domestic sales in June 2021 were at

AgroPolicy, Schemes - Govt

The agriculture minister flags off IEC vans which will continue to engage the farmers on the PMFBY throughout the crop insurance week

Union Minister of Agriculture & Farmers Welfare Narendra Singh Tomar launched the Crop Insurance Awareness Campaign for Fasal Bima Yojana during the Crop Insurance Week as a part of the Government’s India@75 campaign ‘Azadi ka Amrit Mahotsav’, commemorating 75 years of India’s Independence. 

 

Speaking at the launch event, Tomar said that Fasal Bima Yojana aims to provide security cover to each farmer. He also announced that the scheme achieved a milestone figure of Rs 95,000 crore of claims paid to farmers. 

 

The minister said that state governments and insurance companies have an important role in the implementation of PMFBY. The result of their hard work is that in the last four years, a premium amounting to Rs 17000 crores was deposited by the farmers, against which more than Rs 95000 crores have been provided to them as claims. He further added that there is a need to expand the scheme in the country so that its coverage can be increased and more farmers get benefits. 

 

The agriculture minister also flagged off IEC vans which will continue to engage the farmers on the PMFBY throughout the crop insurance week. He also launched PMBFY e-brochure, FAQ booklet and a guidebook to assist farmers and on-ground coordinators to understand the scheme, its benefits and the process of crop insurance. 

 

Throughout the week, the campaign will cover all notified areas/districts under Kharif 2021 season, with a special focus on 75 Aspirational/Tribal districts identified by MoA&FW where crop insurance penetration is low. From 1 July – 7 July 2021, multiple engagement activities will be conducted with farmers of these areas/districts through PMFBY vans, radio, regional newspapers, wall paintings, including digital media.

 

The on-ground and digital initiatives will explain to the farmer about basics of the scheme such as how to enrol in the scheme with the NCIP portal, CSC centres, insurance companies, banks, how to claim insurance under various circumstances, grievance redressal and reporting crop loss. Along with the farmers in tribal areas and aspirational districts, the campaign will engage women, farmers, as well. 

 

Through videos and photo stories on social media, the campaign also aims to bring out stories of beneficiary farmers who have not only benefited from the scheme but helped the entire farming community through their thought-leadership.

 

Special care has been taken to ensure that COVID-19 protocols are to be followed wherever grassroots campaigns are being organised, especially during flag off ceremonies undertaken by several states.

 

The minister urged all state governments and other stakeholders such as banks, CSCs, insurance companies to work together and reach out to the farmers in these identified 75 blocks/circles/tehsils. He also urged all the farmers to come forward and enjoy the benefits of crop insurance, become self-sufficient in times of crisis and support the creation of an Aatmanirbhar Kisan.

 

PMFBY was launched in 2016 under the leadership of PM Shri Narendra Modi and his vision to provide financial security to the farmers of India from vagaries of nature and secure their hard work. To date, the scheme has insured over 29.16 crore farmer applications (5.5 crore farmer applications on a year-on-year basis). Over five years, more than 8.3 crore farmer applications have benefited from the scheme. Moreover, Rs 95,000 crores claims have been paid against Rs. 20,000 crore farmers share.

 

The virtual event was attended by Minister of State Parshottam Rupala, Kailash Chaudhary and the Secretary, Department of Agriculture, Cooperation and Farmers Welfare Sanjay Agarwal along with other senior officers of the agriculture ministry, Minister of Agriculture from the participating states along with other senior officers, insurance company officials and other stakeholders.

The agriculture minister flags off IEC vans

R&D

Program awards researchers and scientists for sustainable solutions to agricultural challenges.

Bayer announced today the opening of its application window for the company’s annual Grants4Ag initiative. For more than five years, the agricultural leader has offered researchers both financial and scientific support to develop their ideas for novel solutions to research and development challenges in agriculture. Since its inception in 2015, over 100 grants have been awarded. This year Bayer’s Grants4Ag winning projects will focus on advancing a more sustainable food system. The deadline for submissions is August 31, 2021.

“Our 2020 Grants4Ag program exceeded our expectations in attracting top proposals across a range of R&D activities,” said Phil Taylor, Open Innovation Lead for the Crop Science division at Bayer. “At Bayer, we promote the responsible use of the world’s resources so this year our Grants4Ag program will support those commitments to advance a more sustainable food system by highlighting projects in that area.”

Bayer’s Grants4Ag program does not have any reporting requirements and each applicant retains ownership of any intellectual property developed. Taylor says the company views these grants as an initial investment with the potential to become larger-scale, longer-term collaborations with Bayer.

In addition to receiving a grant (typically ranging from €5,000 to €15,000), successful applicants will partner up with a Bayer scientist who will provide guidance and feedback on the project. Previous grant recipients highlight this professional mentorship as setting the Grants4 program apart from traditional funding programs. 

“The Grants4Ag program is a great way to begin or boost a research project. The input from the Bayer team in arranging mentors and organizing regular updates is invaluable. Overall you get the freedom to work on a project of your choosing and develop it with the support of Bayer scientists”, said Liz Skellam, Assistant Professor of Chemistry at North Texas University, who received a 2020 grant.

Last year’s program awarded 24 grants after receiving more than 600 submissions from 39 countries around the world. This year, during the submission process Bayer’s Grants4Ag program will again partner with Halo, a marketplace that helps companies connect with scientists through an intuitive, streamlined interface.

 “We’re thrilled to once again support Bayer on this year’s Grants4Ag program,” said Kevin Leland, CEO and Founder of Halo. “We designed Halo as a partnering platform where researchers can join forces to tackle the world’s most pressing challenges, and we look forward to seeing how Bayer’s collaborations with universities and startups will advance sustainable development in agriculture.”

Program awards researchers and scientists for sustainable

Cold Storage, Finance

The startup aims to expand their zero-contamination farming operations, broaden the portfolio with additional fresh categories

Gourmet Garden has announced its latest round of funding of Rs 25 crores led by Beyond Next Ventures, M Venture Partners, and existing investors Incubate India & Whiteboard Capital among others. With this funding, Gourmet Garden aims to expand its zero-contamination farming operations, broaden the portfolio with additional fresh categories, boost customer experience by deploying India’s first end-to-end B2C tech-enabled cold-chain, and improve ease of ordering with a mobile app and refreshed website.

 

Already a leading brand in Bengaluru and Chennai, the start-up is founded by Arjun Balaji, erstwhile a Partner at McKinsey and Company, and Vishal Narayanaswamy who launched among the first hydroponic farms in India. 

 

The company now spans 60,000 customers in Bengaluru and Chennai alone. Over 75 per cent orders, every month come from repeat customers, a testimony to their loyalty-building quality.

 

The startup aims to expand their zero-contamination

Agro chems – Pesticides, Agrotech, North America

Longbow EC is labelled for use in more than 40 crops, including cotton, corn, soybeans, peanuts, sorghum and sugarcane

Nufarm Americas Inc. has announced the launch of Longbow™ EC. Longbow EC is the latest in Nufarm’s versatile portfolio of herbicides and harvest aids, helping growers achieve with cleaner crops at harvest time and providing weed management by controlling more than 60 broadleaf weed species, such as various pigweeds, lambsquarters and waterhemp.

“Carfentrazone-ethyl, the active ingredient in Longbow EC, has been a mainstay in grower’s agronomic plans for decades, providing a multi-faceted tool that can be used as both a broadleaf herbicide and defoliant.” said Chris Bowley, Nufarm Customer & Brand Marketing Manager.

Ready to supply for the season’s defoliation needs, Longbow EC is the latest addition to Nufarm’s growing line-up of solutions for challenges facing growers in the yield-critical “Harvest to Canopy™ window.

As well as having utility as an excellent defoliant and harvest aid, Longbow EC’s low-use rate as a herbicide makes it an economical and flexible tank mix partner with most burndown, non-selective herbicide products. Longbow EC is labelled for use in more than 40 crops, including cotton, corn, soybeans, peanuts, sorghum and sugarcane.

Longbow EC is labelled for use in

AgroPolicy, Oilseeds

Department of Food & Public Distribution recommends removal of the restriction on import of RBD Palmolein and put it in the open general category of imports

The Centre has reduced the duty on Crude Palm Oil (CPO) by 5 per cent to bring relief to the consumers and reduce the edible oil prices. Further, to cool down the prices of RBD Palmolein (Refined Palm oil), the Department of Food & Public Distribution has recommended the removal of the restriction on import of RBD Palmolein and to put it in the open general category of imports. These moves are expected to lower the prices of edible oils for domestic consumers. 

The major edible oils consumed in the country are mustard, soybean, groundnut, sunflower sesame oil, niger seed, safflower seed, castor and linseed (primary source) and coconut, palm oil, cottonseed, rice bran, solvent extracted oil, tree and forest origin oil. The total domestic demand for edible oils in the country is approximately 250 LMT per year. Around 60 per cent of the edible oils consumed in the country is met through imports. Palm oils (Crude + Refined) import constitutes around 60 per cent of the total edible oil imported, out of which 54 per cent is imported from Indonesia and Malaysia. As the country has to depend heavily on imports to meet the gap between demand and supply, International prices have an impact on domestic prices of edible oils. 

Food inflation including high prices of edible oils has been a cause of concern and therefore the government has been monitoring their prices and taking steps by way of removing bottlenecks to soften prices. A mechanism was institutionalised involving nodal offices of the Customs department, FSSAI, plant quarantine division to monitor the speedy clearance of food commodities like pulses and Crude Palm Oil (CPO) at shipping ports. The international prices of crude edible oil and refined palm oil were showing a declining trend in prices over the past month. Still, the prices of domestic refined palm oil and crude edible oil remained high. 

The government, keeping in view the consumer interest due to rising prices of edible oil, has reduced the duty on CPO duty by 5 per cent. Further, to cool down the prices of RBD Palmolein (refined palm oil), DFPD recommended the removal of the restriction on import of RBD Palmolein and put it in the open general category of imports to support its availability at lower prices for the domestic consumer.

Ministry of Finance vide Notification No. 34/2021-Customs dated June 29, 2021, has cut duty on CPO to 10 per cent from 15 per cent w.e.f. June 30, 2021, and this will remain in force up to and inclusive of September 2021. The reduction will bring down the effective tax rate on CPO to 30.25 per cent from the earlier 35.75 per cent inclusive of additional agri-cess of 17.5 per cent and 10 per cent social welfare cess. This reduction, in turn, will bring down the retail prices of edible oils.

Further, the Department of Commerce vide Notification No. 10/2015-2020 dated June 30, 2021, has issued a revised import policy for Refined Bleached Deodorized (RBD) Palm Oil and RBD Palmolein by removing both from restricted to free category. This would be effective with immediate effect and for a period up to 31.12.2021. 

The government has reduced duty only till September 2021 to signal to farmers that their interests shall not be compromised. Making India ’AtmaNirbhar’ in edible oils is our cherished goal and the national oilseeds mission is committed to achieving it by aligning policies including foreign trade. The government will be monitoring the prices daily expects the industry to pass on full benefits to the consumers.

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