New Delhi: The government has set an ambitious target for a more than tripled increase in domestic palm oil production, of the current 3 lakh tons to 11 lakh tons in 2025-26, to reduce India’s high dependence on vegetable oil imports.
To accelerate production and oil palm cultivation in this country, the government will now place a special focus on the Northeast and Andaman and Nikobar.
The source said the proposal for the national mission in oil palm oil which was edible (NEMO-OP) was placed before the cabinet on Wednesday and was approved.
Mission to encourage domestic palm oil production to obtain significance considering that India imported nearly 133.5 lakh tons of oil that can be eaten at 2020-21 worth 80,000 crore to meet domestic needs and imported palm oil share is around 56% followed by Soyabean (27% ) And sunflower oil (16%).
Toi has learned that under this mission the government will focus on increasing oil palm cultivation up to 10 lakh hectares in 2025-26 and 16.7 lakh hectares in 2029-30.
This center will provide financial assistance to farmers to ensure that they get a good price for their products.
This will compile prices for formula and product feasibility prices.
The source said the weather conditions in the northeast and Andaman and the Nicobar Islands are conducive to oil palm cultivation and this is the reason why this mission’s special focus will be in these two fields.
“If the government aims to carry 10 lakh hectares in oil palm cultivation in the next five years, they must declare oil palm as plantation plants such as rubber tea and coffee to attract investment.
Also, the land suitable for oil palm cultivation must be released from Law Invite the ceiling.
The government will get RS 40,000 Crore as an import duty from vegetable oil imports this year.
We have suggested that the government must provide financial support of 5,000 crore per year for the next five years for oil seed oil and oil palm to see Real results, “said B V Mehta, Executive Director of the Extractors Association (Sea) from India.