The Cabinet approves Rs 11,040 crore National Mission on Edible Oils.

Edible Oils.

Edible Oils.

On Wednesday, the Union cabinet approved the start of the National Mission on Edible Oils - Oil Palm (NMEO-OP), a new centrally sponsored scheme with a five-year budget of Rs 11,040 crore.The central government would provide Rs 8,844 crore and the states will contribute Rs 2,196 crore to the total budget of Rs 11,040 crore.The program's main goal is to expand the acreage and productivity of oilseeds and palm oil. |

The north-eastern region, as well as the Andaman and Nicobar Islands, will be given special attention."This would boost capital investment, create jobs, reduce reliance on imports, and boost farmer income," said Union Agriculture Minister Narendra Singh Tomar.According to the minister, the government would devise a method to fix and manage pal oil prices.

This programme proposes to cover an additional 6.5 lakh hectares (ha.) of oil palm land through 2025-26, bringing the total to 10 lakh hectares. Crude palm oil (CPO) production is estimated to reach 11.20 lakh tonnes in 2025-26 and 28 lakh tonnes in 2029-30. Seed gardens would be given assistance up to Rs.80 lakh for 15 ha in most states and Rs.100 lakh for 15 ha in the North-East and Andaman regions to solve the country's dearth of planting material.



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