Edible oil industry, Solvent Extractors Association of India (SEA) has urged the government to stop issuing further licences for the import of palmolien, warning that it would further depress local prices ahead of the arrival of massive mustard seed crop. SEA President Atul Chaturvedi noted that the government banned import of RBD Palmolein a month back to check excessive imports but there are reports that the Directorate General of Foreign Trade (DGFT) has issued licences for the import of 11 lakh tonnes of palmolien.
Chaturvedi said ‘We are dismayed at this action which has the potential of destroying palm refining industry in the country.’ He added that this is contrary to PM's vision of Make in India. The industry appealed to the Commerce Ministry to stop issuing further licences to safeguard the interest of domestic vegetable oil refining industry and mustard farmers.
He further said that there is no shortage of RBD Palmolein or edible oils in the country and also edible oil prices in international as well as domestic markets are showing downward trend in the last one-and-a-half months. He noted that with a massive mustard crop ready for harvesting, import of palmolien will have a great dampening effect on prices of domestic oilseeds and oils. He also expressed concern that it may result in mustard selling below minimum support price (MSP) and once again government's nodal agency NAFED getting saddled with huge stocks.
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