Growers Seek From Centre Remunerative Price for Oil Palm

Vijayawada: AP Oil Palm Farmers’ Welfare Association sought from union finance minister Nirmala Sitharaman a remunerative price of Rs.18,000 per tonne of oil palm.

Association general secretary Dr. K. Kranthi Kumar Reddy, president Bobba Veera Raghava Rao and other leaders, accompanied by BJP AP president Daggubati Purandeswari, submitted a memorandum to Nirmala Sitharaman in Vijayawada demanding re-imposition of import duties on crude palm oil (CPO) to protect the Indian farmers.

Association leaders explained to the union finance minister that due to duty-free import of CPO, the price of fresh fruit palm bunch has fallen from Rs.23,635 per tonne in May 2022 to Rs.12,100 per tonne in October 2023. As a result, prices of CPO have fallen from Rs.1.45 lakh per tonne to Rs.74,000 per tonne.

The leaders of oil palm growers requested Nirmala Sitharaman to maintain the CPO price at Rs.1.20 lakh per tonne, so that cost of cultivation is covered. They asked the union minister to call for a meeting of all stakeholders for revising the remunerative price to Rs.18,000 per tonne.

Association leaders said the union minister assured them that she would consider the matter and do justice to oil palm farmers.