# Budget 2024: SEA pins hopes on budgetary support to boost oilseed production  - The HinduBusinessLine

> The Solvent Extractors' Association of India expects the Union Budget to fund an National Mission on Edible Oils and oilseed production to cut India's 60% edible oil import reliance. The association also asked the government to lift the de-oiled rice bran export ban, which runs until July 31, 2024.

- Date: 2024-06-20 · published 2024-06-20T12:00:00.000Z
- Category: policy · region India · magnitude low
- Page: https://feedsoft.ai/events/29845-budget-2024-sea-pins-hopes-on-budgetary-support-to-boost-oilseed-production-the
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Lifting the de-oiled rice bran export ban would add exportable meal supply, while budget support for oilseeds could eventually reduce India's vegetable oil import demand.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2022-08-25 | [SEA asks Indonesia to ensure stable policy for palm oil exports  - The HinduBusinessLine](https://feedsoft.ai/events/15800-sea-asks-indonesia-to-ensure-stable-policy-for-palm-oil-exports-the.md) | +1.7% | -4.1% |
| SBO | 2017-11-29 | [Slapping duty a quick solution,  not a lasting one - The HinduBusinessLine](https://feedsoft.ai/events/67955-slapping-duty-a-quick-solution-not-a-lasting-one-the-hindubusinessline.md) | -1.7% | -2.7% |
| SBO | 2022-03-09 | [Oil prices tumble after UAE says it wants OPEC to increase production \| CNN Business](https://feedsoft.ai/events/5821-oil-prices-tumble-after-uae-says-it-wants-opec-to-increase-production-cnn.md) | -6.9% | +240.0% |
| SBO | 2021-07-19 | [U.S. oil drops 8% to below $70 amid OPEC production boost and Covid fears](https://feedsoft.ai/events/6358-u-s-oil-drops-8-to-below-70-amid-opec-production-boost-and-covid-fears.md) | -0.1% | -1.4% |
| SBO | 2025-02-27 | [Biodiesel production to decline in 2025 due to declining profitability – Milke](https://feedsoft.ai/events/26121-biodiesel-production-to-decline-in-2025-due-to-declining-profitability-milke.md) | -5.2% | -4.3% |
| PALMOIL | 2018-03-02 | [Centre hikes import duty on crude, refined palm oils - The HinduBusinessLine](https://feedsoft.ai/events/10367-centre-hikes-import-duty-on-crude-refined-palm-oils-the-hindubusinessline.md) | -4.3% | -3.9% |
| PALMOIL | 2022-08-25 | [SEA asks Indonesia to ensure stable policy for palm oil exports  - The HinduBusinessLine](https://feedsoft.ai/events/15800-sea-asks-indonesia-to-ensure-stable-policy-for-palm-oil-exports-the.md) | -0.5% | -9.5% |
| PALMOIL | 2017-11-29 | [Slapping duty a quick solution,  not a lasting one - The HinduBusinessLine](https://feedsoft.ai/events/67955-slapping-duty-a-quick-solution-not-a-lasting-one-the-hindubusinessline.md) | -2.5% | -5.4% |

## Sources

- thehindubusinessline.com: https://www.thehindubusinessline.com/economy/agri-business/budget-2024-sea-pins-hopes-on-budgetary-support-to-boost-oilseed-production/article68311513.ece

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.