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

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

Part of: Prelims and GS – III – Food processing and related industries in India 

Context Arunachal Pradesh has finalised the National Mission on Edible Oils-Oil Palm (NMEO-OP) implementing it across 1.33 lakh hectares soon.

• Besides, Integrated oil palm development firm 3F Oil Palm plans to invest Rs. 1,750 crore in oil palm cultivation in Assam and Arunachal Pradesh.
• Oil palm area under cultivation in the two States would increase in the next five years by about 31 times to 62,000 hectares and employment opportunities would be created.

What are the key features of the NMEO-OP Scheme? 

• Objective: To ensure self-sufficiency in edible oil production.
• Aim: To reduce import dependence from 60% to 45% by 2024-25, by increasing domestic edible oil production from 10.5 million tonnes to 18 million tonnes which is a 70% growth target. 
• Farmers will get all needed facilities, from quality seeds to technology. 
• Along with promoting the cultivation of oil palm, this mission will also expand the cultivation of our other traditional oilseed crops. 

What is the need for such schemes? 

• India is the largest consumer of vegetable oil in the world. 
• India’s Palm oil imports are almost 60% of its total vegetable oil imports.
• Recently, India’s dependence on expensive imports has driven retail oil prices to new highs.
• In India, 94.1% of its palm oil is used in food products, especially for cooking. Thus, palm oil is extremely important to India’s edible oils economy.
• Top consumers: India, China, and the European Union (EU).

Do you know? 

• The NMEO-OP’s predecessor was the National Mission on Oil Seeds and Oil Palm.