Cabinet approves price support for disposal of surplus mustard

New Delhi, Feb 8 (UNI) The Cabinet Committee on Economic Affairs (CCEA) today approved the disposal of surplus mustard in seed form and through processing in mustard oil form in domestic market at prevailing market prices.

The Cabinet has allowed disposal of mustard seed in whole form upto 10 lakh MT from December 1, 2006 to February 28, 2007 and through process in oil form upto two lakh MT.

CCEA also gave its approval of Rs 1909.66 crore for meeting losses due to procurement of mustard for paying to banks before March 31, 2007 and additional fund of Rs 289.86 crore for 2007-08.

The approval not only would enable NAFED to dispose remaining stock and settle the accounts with banks but also the procurement of mustard seed to ensure minimum support price to the farmers.

UNI