Prime Minister Narendra Modi’s Decision for Paddy, Cotton, Soybean, and Oilseed Farmers is Valuable – Deputy Chief Minister Devendra Fadnavis

Nagpur : In a significant move for farmer welfare, Prime Minister Narendra Modi has increased the import duty on crude edible oil and withdrawn the minimum export price (MEP) for basmati rice. The decision to cancel the MEP on onions is also highly appreciated. The import duty on refined oil has been raised to 32.50 percent. These measures will benefit farmers growing paddy, soybean, cotton, and other oilseeds. Deputy Chief Minister Devendra Fadnavis has expressed gratitude to the Prime Minister for these farmer-friendly decisions.

Under Prime Minister Narendra Modi’s leadership, the central government has implemented several key measures for farmers. Deputy Chief Minister Fadnavis welcomed these decisions, stating they are revolutionary for improving prices for agricultural produce.

Previously, there was no duty on imported edible oil; now, a 20 percent duty has been introduced. Soybean producers are expected to receive higher prices as a result. Additionally, the customs duty on refined soybean, sunflower, and palm oil has been increased from 12.50% to 32.50%. The central government’s decision to purchase soybeans has already benefited farmers.

The export duty on onions has been reduced from 40 percent to 20 percent, and the MEP for onions has been completely abolished. This change is expected to provide better prices and financial benefits to onion producers.