Oil palm developers assn hail ‘national edible oil mission’ announced by PM

New Delhi, August 9: The Oil Palm Developers and Processors Association on Monday lauded Prime Minister Narendra Modi’s announcement of the National Edible Oil Mission-Oil Palm scheme, saying it will help in incentivising the production of palm oil, reduce dependence on imports and help farmers exploit the huge market demand.

In a statement, the association said it had been demanding significant change to push for local oil palm cultivation and hoped the announcement will help fulfil the Atmanirbhar Bharat agenda in the vegetable oil sector.

In his address to the farmers, while releasing the ninth installement of the funds under PM-KISAN, the PM had said the new scheme will see a fund infusion of Rs 11,000 crore for expanding palm oil cultivation in the country and expanding all faculties to the farmers.

“The expanse of Oil Palm cultivation in the country is very negligible today as compared to the potential the crop possesses. We have seen the transformation this crop has brought about in the lives of the farmer community in Andhra Pradesh and we hope to emulate the same in the other potential states as well. A robust, long-term policy mechanism will give this crop the required push across India,” association president Sanjay Goenka said in his statement.

With the new scheme, India can truly achieve its goal of self-sufficiency in edible oils by pushing for development in the Oil Palm plantation sector.

“While we await the detailed policy guidelines on this front, we appreciate the move by the Government of India and simultaneously assure our Honourable Prime Minister that all of us Processors at the Oil Palm Developers and Processors Association of India will strive hard to make his dream of self-reliance in Edible Oil come true,” Goenka underlined.

India is heavily dependent on imported edible oils, with nearly 15 million tonnes (or nearly 68%) of edible oils getting imported to meet the country’s annual requirement of about 22 million tonnes. Of the total 15 million tonnes of import, about 9 million tonnes (or nearly 60 per cent) is palm oil and its derivatives.

The Centre plans to raise the domestic production of palm oil by three times to 11 lakh MT by 2025-26. This will involve raising the area under oil palm cultivation to 10 lakh hectares by 2025-26 and 16.7 lakh hectares by 2029-30.

The special emphasis of the scheme will be on India’s north-eastern states and the Andaman and Nicobar Islands due to the conducive weather conditions in the regions.