HYDERABAD: The Government is contemplating a move to ban sale of imported palm oil in the State with a view to ensuring a better price for groundnut oil and thereby protecting the interests of the groundnut farmers.
Agriculture Minister N. Raghuveera Reddy, who reviewed the arrangements for procurement of agriculture produce for the kharif season here on Wednesday, directed officials to submit a report within a week on how to go about enforcing the ban.
Speaking to reporters later, the Minister said the price of groundnut oil price had fallen from Rs.70 to Rs. 62 a kg whereas that of palm oil had risen from Rs. 45 to Rs. 47 a kg.. Even groundnut (with 75 per cent shelling) that commanded a price of Rs 2,800 a quintal earlier this month had fallen to Rs 2,500.
He said this trend was worrying groundnut farmers as well as the Government. Several groundnut processing plants too were closed.
The Government, therefore, would ban the sale of imported palm oil, but spare the palm oil produced from the locally grown crop.
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