PM Modi announces National Edible Oil Mission-Oil Palm
Prime Minister Narendra Modi announced National Edible Oil Mission-Oil Palm to make India self-reliant in edible oil and reduce imports.
Prime Minister Narendra Modi announced a National Edible Oil Mission-Oil Palm (NMEO-OP) on August 9, 2021 to make India self-sufficient in cooking oils, including palm oil. The Prime Minister made the announcement while he was stressing on reducing the dependence on imports during a virtual event on PM Kisan scheme.
The Prime Minister said that over Rs 11,000 crore will be invested in the edible oil ecosystem. He also transferred over Rs 19,500 crore into the accounts of 9.75 crore farmers under the government's flagship PM-Kisan scheme.
PM Modi highlighted during the event that India has become self-sufficient in the production of rice, wheat and sugar, but it is not enough as the country is still largely dependent on huge imports of edible oils.
Hence, to make India self-reliant in edible oil too, the Prime Minister announced National Edible Oil Mission-Oil Palm.
National Edible Oil Mission-Oil Palm
•Under the National Edible Oil Mission-Oil Palm, the central government will ensure that farmers get all facilities including quality seeds and technology to promote farming to produce palm oil and other oil seeds.
•The mission will promote the cultivation of oil palm.
•It will also promote the expansion of the cultivation of other traditional oilseeds crops.
•India is the world's biggest importer of edible oils. India is highly dependent on imports of edible oil to meet domestic demand. Out of India's total edible oil imports, palm oil constitutes about 55 percent.
•As per official data, India imported $10 billion worth of vegetable oil in 2019-20, making it the country’s fifth most valuable import.
•Prime Minister Narendra Modi also pointed out that India has spent thousands of crores of rupees on edible oil imports and this money rather should go to farmers.
•The Prime Minister said that north-eastern states and Andaman and the Nicobar Islands could be promoted for palm oil farming.
About Palm Oil
Palm Oil is one of the cheapest edible oil available naturally and it is relatively stable at high temperatures. It is, therefore, suitable for reuse and deep-frying.