India’s NMEO-OP initiated a Mega Oil Plantation Drive from July 25 to August 5, 2023. A roundtable in Guwahati discussed the importance of oil palm cultivation for Northeast farmers and its potential to uplift them. The initiative aimed to boost the region’s economy and provide employment opportunities.
India launched the National Mission on Edible Oils – Oil Palm (NMEO-OP) in August 2021, aiming to increase edible oil production from oil palm. The scheme is a Centrally Sponsored Scheme, with costs shared 60:40 between the Central and State Governments for general states, 90:10 for North Eastern states, and 100% for Uttar Pradesh and central agencies. Land ownership remains with farmers, not corporations. Balram Singh Yadav, Managing Director, Godrej Agrovet Ltd, a diversified, research-focused food and agri-business conglomerate said, “The NMEO-OP is a step in the right direction for the country. We thank the government for putting this in place and also taking special care of the Northeast States.”
India is the world’s largest importer of Palm Oil and is the 2nd largest consumer of Palm Oil. With the local production of 300,000 tons, the country currently imports 7,500,000 tons.
