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Puri Oil Mills Seeks PLI Support and Export Boost in Union Budget

Puri Oil Mills, one of India’s leading mustard oil manufacturers, has urged the government to extend support to the sector through Production-linked Incentives (PLI), the creation of a development board, and the removal of export barriers ahead of the upcoming Union Budget.

Vivek Puri, Managing Director of Puri Oil Mills and promoter of P Mark Mustard Oil, emphasized that mustard oil is a key component of India’s MSME sector and holds significant potential for both domestic and international market expansion.

Speaking to PTI, Puri stressed that mustard oil plays an essential role in the food processing industry, and government support through PLI schemes is crucial for enhancing domestic manufacturing and boosting exports.

India achieved a record production of 12 million tonnes of mustard oilseeds in the fiscal year 2023-24, and experts forecast the market will grow at a 4.1% Compound Annual Growth Rate (CAGR) from 2024 to 2032. This growth is driven by rising disposable incomes, health benefits, and increasing demand across urban and rural areas.

The MD also called for the introduction of economic incentives similar to carbon credits for businesses promoting sustainable and energy-efficient practices. He highlighted that the traditional ‘cold press method’ used in mustard oil production avoids heat and chemicals, resulting in zero carbon emissions while preserving nutritional quality.

A key proposal was the establishment of a “Mustard Oil Development Board,” akin to the Malaysian Palm Oil Promotion Council (MPOPC), which would promote Indian mustard oil globally as a healthy and sustainable product. The board would also focus on encouraging mustard seed cultivation and supporting research in value-added products.

However, Puri raised concerns over export restrictions, particularly in the United States and Europe, where mustard oil is classified as “for external use only” by the FDA. He urged the government to initiate dialogues to resolve these export barriers and implement export-friendly policies.

Additionally, Puri suggested declaring an International Year of Mustard Oil and taking measures against adulteration while promoting mustard seed cultivation.

Mustard oil has a 40% oil content, which is significantly higher than other oilseeds, making it a potential key player in India’s edible oil production strategy. According to Niti Aayog’s August 2024 document on edible oils, mustard oil and oilseeds could play a pivotal role in achieving “Aatmnirbharta” (self-reliance) in edible oil production, a key priority for the Indian government.

Founded in 1933, Puri Oil Mills Ltd operates three manufacturing plants in Punjab, Himachal Pradesh, and Haryana, producing P Mark mustard oil for the Indian market.

Puri Oil Mills Seeks PLI Support and Export Boost in Union Budget

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