Hyderabad: The Revanth Reddy-led government in Telangana has delivered promising news for palm oil farmers in the state, announcing an increase in the support price for palm oil. This adjustment aims to provide a festive gift ahead of the Dasara celebrations, with the price rising to ₹17,043 per ton.
Agriculture Minister Tummala Nageswara Rao remarked, “The Dasara festival has come early for the families of palm oil farmers.” He emphasized the government’s commitment to making agriculture profitable in Telangana by offering higher prices to palm oil producers, thereby encouraging new farmers to enter the sector.
In a related development, Minister Nageswara Rao revealed that he had recently urged Union Agriculture Minister Shivraj Singh Chouhan to reimpose an import duty on crude palm oil to protect domestic farmers. Responding to this request, the central government has raised the import duty on crude palm oil from 5.5% to 27.5%.
Bonus of ₹500 for Fine Rice
In another initiative aimed at fulfilling electoral promises, the state government is also set to provide a bonus of ₹500 for fine rice. The Telangana cabinet approved this scheme during a recent meeting. Chief Minister Revanth Reddy announced that farmers producing fine rice will receive the bonus starting from the Kharif season.
Additionally, official sources indicate that the state government has prepared a plan to deposit the Rythu Bharosa (Rythu Bandhu) funds into farmers’ accounts before the Dasara festival. However, an official announcement from the Telangana government on this matter is still pending.