The government will formulate a strategy to achieve self-sufficiency in oilseeds — mustard, groundnut, sesame, soybean and sunflower — and expand usage of nano diammonium phosphate (DAP) fertiliser to reduce import dependence.

“Atmanirbhar Oilseeds Abhiyan will cover research for high-yielding varieties, widespread adoption of modern farm techniques, market linkages, procurement, value addition and crop insurance,” finance minister Nirmala Sitharaman said on Thursday. India imports around 56% of its domestic edible oil consumption of around 25 million tonne (MT).

According to the Solvent Extractors Association of India, the country’s import of palm, soybean and sunflower oils rose 17% to a record 16.47 MT (valued at Rs 1.38 trillion) in the 2022-23 …