Domestic Economy
0

Estimates for Oilseed Production Dwindle

Estimates for Oilseed Production Dwindle Estimates for Oilseed Production Dwindle

A total of 180,000 to 200,000 hectares are estimated to have gone under oilseeds cultivation in the current crop year (September 2020-21), producing close to 600,000 tons, according to the director of Agriculture Ministry’s National Oilseed Project.
“This amount will only meet 18% of domestic demand and the rest needs to be imported … The government spends more than $4 billion per year to meet domestic demand for vegetable oils,” Alireza Mohajer was also quoted as saying by Young Journalists Club.
About a month ago, the official had told IRNA that the Agriculture Ministry estimates 550,000 hectares of farmlands will go under oilseed cultivation in the current crop year. 
This volume, he added, will yield close to 900,000 tons of different kinds of oilseeds, which would mark a 50% year-on-year increase, provided farmers are encouraged to go along with the Agriculture Ministry’s plan.

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment

Financialtribune.com