NERAMAC revival and Oil Palm Mission

NERAMAC revival and Oil Palm Mission

Part of: GS Prelims and Mains GS-II- Governance

In news: Recently, The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister has approved a revival package of Rs.77.45 crore for revival of North Eastern Regional Agricultural Marketing Corporation Limited (NERAMAC), 

• On the same day, the Union Cabinet also approved the National Mission on Edible Oils – Oil Palm (NMEO-OP) as a new Centrally Sponsored Scheme with a special focus on the North east region and the Andaman and Nicobar Islands. 

About NERAMAC

• NERAMAC is a central Public Section Enterprises under the administrative control of Ministry of Development of North Eastern Regional (MDoNER). 
• NERAMAC was set up to support farmers/producers of North East getting remunerative prices for their produce and thereby bridge the gap between the farmers and the market and also to enhance the agricultural, procurement, processing and marketing infrastructure of the North-eastern Region of India.
• Its objective is to undertake development and marketing of horticultural products within and outside the north eastern region and the supply of inputs, tools, equipment etc. required for the development of horticulture and agro-based industries.
• The revival of NERAMAC will ensure remunerative prices to the farmers and provide better farming facilities and training to the farmers of the North Eastern Region.

About National Mission on Edible Oils – Oil Palm (NMEO-OP)

• NMEO-OP was set up with the special emphasis on India’s north-eastern states and the Andaman and Nicobar Islands due to the conducive weather conditions in the regions, under which oil palm farmers will be provided financial assistance and will get remuneration under a price and viability formula.
• Its objective is to achieve self-reliance in edible oil by reducing import dependency of palm oil, thereby benefitting oil palm farmers & create employment generation.
• The Mission aims to increase the area under cultivation for Oil Palm by an additional area of 6.5 lakh hectare (ha.) thereby reaching the target of 10 lakh hectares in the next 5 years

Do You Know? 

• India is the largest edible oil importer in the world and imports 133.50 lakh tonnes costing 80 thousand crores.
• Mizoram is ranked among the top 5 cultivators of Oil Palm in the country and its Farmers already have significant Oil Palm cultivation experience.

News Source: PIB