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Business EconomyPosted at: Dec 27 2021 7:11PM


Business Summit on National Mission on Edible Oils in Hyderabad on Dec 28

Hyderabad, Dec 27 (UNI) A Business Summit on National Mission on Edible Oils – Oil Palm (NMEO-OP) is scheduled to be held here on Tuesday for nine oil palm growing states.
The Summit will be chaired by Union Minister of Agriculture Narendra Singh Tomar.
Agriculture Ministers, Principal Secretaries, Secretaries , HODs, Department Officials, Farmers & Processors from nine states - Andhra Pradesh, Karnataka, Tamil Nadu, Kerala, Odisha, Gujarat, Chhattisgarh, Goa and Telangana will participate in the programme, a release said here on Monday.
About 250 delegates are expected to participate in the summit.
The Agenda of the summit is to have meaningful discussions and to chalk out an action plan for the oil palm industry.
To give wide spread information/publicity on newly launched centrally sponsored scheme National edible oil mission –oil palm (NMEO-OP) and further implementation in conjunction with the States/ farmers/ processors etc., and business opportunities in the oil palm sector, the Government of India is organizing business submissions across the country.
As part of this, the government had already conducted a Business Summit in Assam for North Eastern States earlier and now it is proposed to conduct the Business summit for 9 oil palm growing states in Hyderabad, Telangana State.
India stands second in consumption of palm oil with 10.2 Million MT after Indonesia (12.75 Million MT).
Out of the total imports, Palm oil accounts to 60 per cent -- 9-10 Million MTs of the total imports worth of Rs.60,000 to Rs.70,000 crores per annum.
At present, Oil palm cultivation is taken up in 3.70 lakh Ha (9.25 lakh acres) with a CPO production of 2.5 Lakh MTs in India.
To attain self-sufficiency under oil palm in India, an additional area of 28 lakh Ha (70 lakh acres) is required.
Government of India has launched a new scheme National Mission on Edible Oils – oil palm (NMEO-OP) with an objective to harness domestic edible oil prices that are dictated by expensive palm oil imports and become self-reliant in edible oils and to raise the domestic production of palm oil by three times to 11.20 lakh MT by 2025-26 and up to 28lakh tones by 2029-30.
The scheme will immensely benefit the oil palm farmers, increases capital investment, create employment generation, would reduce the import dependence and also increase the income of the farmers.
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