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Edible oil target to be achieved
ISLAMABAD: The government has prepared a comprehensive plan to
achieve the
target set for the production of edible oil during the current
fiscal year. According to official sources the production of
around 0.60 million tonnes edible oil has been fixed for year
2001-02. The total domestic consumption of edible oil is
around 1.7 million tonnes, out of which 1.1 million tonnes is
being imported from abroad. As many as Rs.28 million are being
spent on the import of edible oil every year, the sources
added.
The oilseeds sector is showing encouraging growth in the
country during the
last couple of years. In this respect, the government is
paying special attention to enhance the cultivation of canola,
olive and palm oil in the country to save precious foreign
exchange.
The total production of "banola" oil is around 450,000 tonnes,
sunflower 77,000 tonnes, canola 32,000 tonnes and other seeds
is 700 tonnes per year in the country. Palm oil and Soyabeen
is being imported in large quantity while other seeds are
being produced within the country.
The decreasing trend in the prices of edible oil in the
international markets has been a factor which hurdles domestic
production of the commodity. In the world market, the price of
edible oil is around $250 to $300 per tonne which is less than
the domestic price. It is hoped that government will soon
offer good price to improve local production.
Olive oil plants have already been cultivated in NWFP and
Baluchistan to fulfil oil requirements while palm oil has been
cultivated in Baluchistan and Sindh which is producing desired
results. The cultivation of crop is very good and giving good
yield with bright chances of further improvement.
The climatic conditions are also conducive to the promotion of
palm oil cultivation here. Canola is very profitable crop as
compared to Mustard and many areas of the country have
conducive environment for its cultivation.
December 11, 2001
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