Unless the focus comes back on high-yielding seeds that have a higher oil content than currently available varieties, self-sufficiency in edible oils will continue to be a mirage
The associations said the measures were extremely necessary to stop the free fall in mustard seed prices
Earlier, a similar zero duty quota on the import of refined soybean oil was abolished
Almost 200 activists gathered outside the Directorate of Mustard Research in Bharatpur (Rajasthan), calling for halting the approvals
The plea stated that the modified seeds can contaminate non-GM mustard crops and that the sowing of such seeds should be put on hold
The government on Tuesday hiked the minimum support price for wheat by Rs 110 to Rs 2,125 per quintal and mustard by Rs 400 to Rs 5,450 per quintal for the current crop year with an aim to boost production and income of the farmers. The decision to increase the MSPs (minimum support prices) was taken at a meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi. MSP is the rate at which the government buys grain from farmers. Currently, the government fixes MSPs for 23 crops grown in both Kharif and rabi seasons. Sowing of rabi (winter) crops begins in October, immediately after the harvest of kharif (summer) crops. Wheat and mustard are major rabi crops. According to an official release, the CCEA has approved an increase in MSPs for six rabi crops for the 2022-23 crop year (July-June) and the 2023-24 marketing season. Wheat MSP has been increased by Rs 110 to Rs 2,125 per quintal for this crop year from Rs 2,015 per quintal in the 2021-2
Mustard seed at the benchmark Jaipur market is trading at Rs 6,160 per quintal; Benchmark cotton S6 (29mm) in Gujarat is quoting around Rs 19,100 per bale
For the week ahead, mustard seed prices are expected to head towards Rs 4,850 and then to Rs 4,820
For the month ahead mustard prices are expected to head towards Rs 4,400
Mustard seed prices trading at Rs 3,986 a quintal; coriander prices at Rs 4,938 a quintal