In 2021, in order to increase the supply part vegetable oil by local producers, to cut imports, the area for planting sunflower, soybeans, sorghum, rapeseed, sesame and flax will be increased.

Also, depending on the soil and climatic conditions, the olive plant will be grown on a plantation basis, the Association of Oil and Fat Enterprises said.

This year, 530 hectares of olive plantations will be set up in Surkhandarya and Kashkadarya provinces, including 100 hectares in each of Altynsay, Muzraabad and Uzun districts of Surkhandarya province, 50 hectares in each of Termez, Jarkurgan, Sariosiya and Bandikhan districts, and 30 hectares in Dehkanabad district of Kashkadarya province.

465,000 olive seedlings of Arbusano, Arbikino (Italy), Manzania and Colores (Spain) and Gemlik (Turkey) varieties resistant to frost up to 10 degrees are planned to be planted.

Olive plantators will be provided with soft loans by banks for a period of 7 years, with subsidies in the amount of 3.2 billion soums will be provided for the introduction of drip irrigation technologies.

According to the Association, the current annual demand for vegetable oil in Uzbekistan is at 475,000 tons. Oil companies produce 259,000 tons of vegetable oil a year. The demand for vegetable oil in the country is met by 55% of domestic producers and 45% by imports.

Prices for vegetable oil have been soaring in Uzbekistan recently. It was noted that in recent months the world price of vegetable oil has risen by an average of 20-25%, and in Uzbekistan - by 17%, as well as the rise in prices against the background of rising prices for sunflower oil.

It was reported that experts predict that the price could rise by another 30 percent.