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Monday / December 9. 2024
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The newly populated categories feature nearly 8,000 seed varieties that can be procured by Central/State PSUs and other governing bodies for further dissemination across the country.

On a mission to simplify access to quality agricultural & horticulture seeds, Government e Marketplace (GeM) has revamped & introduced 170 Seed categories on the portal. Created ahead of the upcoming cropping season, the newly populated categories feature nearly 8,000 seed varieties that can be procured by Central/State PSUs and other governing bodies for further dissemination across the country.

Created after consultation with stakeholders including state seed corporations and research bodies, seed categories on GeM portal offer a ready framework for seed procurement, incorporating the extant rules & regulations by Government of India and necessary parameters, easing the entire process for procuring authorities.

The roll out of these new categories is a part of GeM’s broader strategy to promote category-based procurement through the portal. With an emphasis on increasing efficiency, category-based procurement of seeds aims to reduce time consumed in tendering processes, stimulate transparency & accountability in government procurement, while facilitating increased participation of sellers across the country.

“We invite sellers to leverage these new seed categories and list their offerings to participate freely in government tenders. We also encourage seed corporations/state bodies to utilise these new categories for cost-effective procurement of quality seeds” said Roli Khare, Deputy CEO, GeM.

The newly populated categories feature nearly 8,000

Total imports for oil year 2023-24 is estimated to be about 16.2 MMT vs 17 MMT in the previous year.

Bhavna Shah, Deputy CEO, NK Proteins Pvt Ltd made a presentation on Indian Vegetable Oils Scenario at a prestigious event organised by UOB Kay Hian in Malaysia on May 20, 2024. In her presentation, she highlighted key facts about the Indian Vegetable Oil Industry.

 Key highlights from presentation:

Vegetable Oil Market Dynamics

The domestic production of vegetable oils is projected to increase by 10-15 per cent in 2024. The increase in production is expected due to higher prices, good monsoon season, and robust domestic crop, with rapeseed significantly contributing to the rise. Import duties on vegetable oils are expected to remain unchanged until the conclusion of the ongoing general elections.

Import Projections

Total imports for oil year 2023-24 is estimated to be about 16.2 MMT vs 17 MMT in the previous year. Palm oil imports are anticipated to decline in 2024 (oil year) as it loses market share due to a narrow price difference with soft oils. India’s palm oil imports likely to register a decline from 10.1 million metric tons (MMT) in 2023 to 8.65 MMT in 2024. For soft oils, soybean oil imports are likely to increase from 3.87 MMT in 2023 to 4.2 MMT in 2024 and sunflower oil imports also likely to increase from 3 MMT in 2023 to 3.25 MMT in 2024. While the import of other oils likely to remain unchanged at 0.1 MMT in 2024.

Global shift & push for biofuels in India

Governments worldwide are urging businesses to transition away from fossil fuels. Biofuels are anticipated to play a crucial role in meeting COP 28 targets. India has also committed to reducing emissions by 45per cent by 2030 and achieving net-zero emissions by 2070. Accelerating biofuel adoption is essential for meeting these emission targets, with replacing coal with biomass presenting a swift solution. As the third-largest ethanol producer, India is well-positioned to expand rapidly.

However, the limited availability and rising costs of feedstock are significant constraints to biofuel production. Non-edible sources face barriers such as unavailability, proper cultivation, regulation, high polyunsaturated fatty acids, and low unsaturated fatty acids content, but technological advancements could help overcome these challenges. Utilising used cooking oil (UCO) as a major feedstock could alleviate some limitations. Additionally, utilising by-products from biodiesel production efficiently can help offset the price of biodiesel, making it more economically viable.

Total imports for oil year 2023-24 is