| Market
Watch
production of oilseed
may increase by 20 percent
LAHORE-Favourable weather
conditions are going to boost the production of local
oilseed by 20 percent this year.
This optimism was shown by Mian Mohammad Ibrahim Chairman
Pakistan Vanaspati Manufacturers
Association. Mohammad Ibrahim said here on August 8, 2001 that
this bright outlook of Pakistan's winter oilseed crop could
sharply reduce burden on our foreign exchange resources and
imports are expected to come down by 25 percent.
Spot lighting the recent weather pattern of the country, he
said that last year Pakistan suffered due to sever drought but
this year plenty of moisture in the soil and sufficient water
in
dams are the potent reasons for this optimism. More-over he
said that one hundred thousand tons of soyabean oil in US aid
has also started arriving in Pakistan
Continuing he observed that all the positive indications
require consistency in our edible oil policy which is not
available presently. He pointed out that if we want that the
present trend of increase in local oilseed should continue
then we must discourage the import of oilseed to turn tables
in favor of farmers of the local oilseed w^ho need protection
against the cheap import of oilseed.. The government must
revise its present policy of low import tariff on foreign
oilseed.
He expected bumper crop ofcanola and cotton seed oil this year
and said that when the prices of Palm oil and Soyabean are
going up, our farmers stand a good chance of getting economic
prices from the crushers. He appeal the government that these
favorable conditions must not be allowed to be eroded for any
consideration.aug 8
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