SOPA chairman calls for edible oil price hike to support farmers’ income & self-reliance

Indore(Team Newsbuddy): Dr. Davish Jain, Chairman of the Soybean Processors Association of India (SOPA), commended the Union Government’s recent initiatives to enhance India’s self-reliance in edible oils and oilseed production while urging a price increase for edible oils to at least Rs 160 per liter to match current fuel prices. Speaking to the media at the 7th International Soy Conclave in Indore on Sunday, Dr. Jain pointed out the significant disparity between edible oil and fuel prices, emphasizing the need for balanced pricing to benefit farmers.
“It is highly inconsistent that fuel prices are about 40% higher than edible oil. SOPA has consistently raised its voice to end this inequality. We believe that the price of edible oil should be at least ₹160 per liter so that our farmers can get the right reward for their hard work. The government needs to balance the balance sheet of edible oil producers and fuel consumer farmers,” stated Dr. Jain.
Dr. Jain lauded the government’s strategic steps to rejuvenate the soybean and edible oil sectors, highlighting initiatives such as the increased import duties on edible oils, the National Mission on Oilseeds, and the Rs 101 billion program designed to double India’s oilseed production by 2030-31. He also welcomed the enhancement of the Rate of Duty Exemption Passbook (RodTEP) for soy meals from 0.5% to 2% of the FOB, though he noted it fell short of SOPA’s expectations.
Additionally, Dr. Jain called on the government to distribute improved, high-yield soybean seed varieties to farmers free of cost, to significantly boost soybean production and propel India toward greater self-reliance in the edible oils and oilseed sector