HYDERABAD
Minister for Agriculture Tummala Nageswara Rao has stated that the price of oilpalm fruit (bunches) has increased to ₹17,043 per tonne following the Centre’s decision to increase the import duty on non-refined palm oil from 5.5% to 27.5% on September 13, consequent to a request from Telangana to Union Agriculture Minister Shivraj Singh Chauhan.
Earlier, the price was at ₹14,392 per tonne and the increase of ₹2,651 per tonne would benefit the oilpalm farmers in Telangana immensely. They would get an additional income of ₹12 crore a month based on average monthly production of oilpalm bunches. The Minister explained that oilpalm plantations were being raised in 44,444 acres in the State now with an annual production of 2.8 lakh tonnes of oilpalm bunches.
He stated that the increase in oilpalm bunches price would benefit 9,366 farmers and would encourage more farmers to take up oilpalm cultivation. The State government had given permission to 14 companies to work for extension of oilpalm cultivation and an extent of 2.23 lakh acres was brought under oilpalm cultivation, including 44,444 acres of plantation in the production stage.
Published - October 01, 2024 06:52 pm IST
