Additionally, low domestic oil seed
production caused by a distortion in support price mechanism for wheat and sugar cane has attracted farmers away from oil seed
, further increasing dependence on imports.
He said that government was also determined to promote the oil seed
production in order to reduce the import bill and forecast the oil seed
requirements at 2,116 metric tons during 2019-20 as against the availability of 105.14 metric tons of last year.
ISLAMABAD -- PTI Government is focusing on import substitution in the oil seed
It was agreed that different initiatives would be adopted to divert Oil Seeds
import to local farmers so that Pakistan can become self sufficient in Oil Seed
Crop and foreign exchange could be saved.
While talking to President of a farmers representative body, PEW President Dr Murtaza Mughal and others here on Wednesday said that policy to please the nobility has damaged the agricultural sector once considered the backbone of the economy.Giving an example, he said that the import of oil seed
has increased from 7.
He said the government has initiated several projects to reduce import bill of edible oil by promoting cultivation of oil seed
With regard to the monetary values of oil seed
commodities it was estimated to be 572.3 million dollar accounted for 12.4% of the average imports values of 4616 million dollar.
Primitive oil mills are wasting hundreds of thousands of oil seed
during extraction process while thirty thousand tonnes of oil can be extracted from the rice bran which needs attention of the private sector.
Dr Azeem Khan, Director General, National Agricultural Research Centre (NARC) while addressing to the participants said, Soybean is one of the most valuable crops in the world not only as an oil seed
crop and feed for livestock and aquaculture, but also as a good source of protein for the human diet and as a bio-fuel feedstock".
Over the last five years, the oil seed
crushing industry has, together with many other domestic industries, matured and a number of new participants have also entered the market.
The rating mirrors the experience of AOCF's promoters in oil and oil seed
trading, the strategic position of its plant and the sound demand for its goods.