Download Unicorn Signals App

Powered By EquityPandit
 Signals, Powered By  EquityPandit
INDIA

NITI Aayog Reports To Use Rice Fallow Areas for Oilseed Cultivation and Reduce Import Dependency

According to the report, this may require a cost-benefit analysis to determine the viability of production compared to alternative crops.

In fiscal 2022-23, India purchased 16.5 metric ton (MT) of edible oils, while domestic production only met 40-45% of the country’s needs. The report forecasts that in a Business-As-Usual (BAU) scenario, the national supply of edible oil will reach 16 MT by 2030 and 26.7 MT by 2047.

NITI Aayog’s Vice-Chairman Suman Bery unveiled a report titled “Pathways and Strategies for Accelerating Growth in Edible Oils Towards the Goal of Atmanirbharta” in the presence of NITI Aayog member Prof Ramesh Chand and senior officials from the Ministry of Agriculture & Farmers Welfare (MoA&FW), ICAR institutes, and industry players.

To attain self-sufficiency in the sector, the report proposes various strategic measures to bridge the existing gap and ensure long-term sustainability. The suggested strategy is organised into three main pillars: (i) Crop Retention and Diversification, (ii) Horizontal Expansion, and (iii) Vertical Expansion.

The Horizontal Expansion Strategy aims to strategically increase the acreage dedicated to cultivating edible oil crops. Potential approaches to self-sufficiency include utilising rice fallow lands for high-yielding oilseed crops, transforming highly suitable wastelands through palm cultivation, and promoting efficient crop retention and diversification in potential regions.

Rice-fallow areas are croplands in South Asia where rice is grown during the kharif season (June–October) and left fallow during the rabi season (November–February). Due to their high water requirements, these areas are unsuitable for growing rabi-season rice.

According to the report, this may require a cost-benefit analysis to determine the viability of production compared to alternative crops. The Vertical Expansion Strategy focuses on enhancing the yield of existing oilseed cultivation through improved farming practices, better-quality seeds, and advanced production technologies.

The report emphasises the strategic retention and diversification of oilseed crops and a focus on areas potentially lost to cereal cultivation to increase India’s edible oil production by 20% in nine states, adding 7.36 million tonnes (MT) of oilseed production and reducing import dependence by 2.1 MT.

The report highlights rice fallow areas as a promising opportunity for horizontal expansion in oilseed cultivation. It states that utilising one-third of the rice fallow area in ten states for oilseed cultivation could increase oilseed production by 3.12 MT and reduce import reliance by 1.03 MT.

Tired of guessing stocks to trade in daily?
Unicorn Signals empowers you with powerful tools like daily stock scans for Intraday, Swing & Investing, Market Predictions and much more. Download the Unicorn Signals app today and take control of your investments!

Get Daily Prediction & Stocks Tips On Your Mobile