In Arunachal Pradesh, the Prime Minister inaugurated the first oil mill under the National Mission on Edible Oil – Oil Palm (NMEO-OP). This is India’s first integrated oil palm processing unit by 3F Oil Palm. The factory is located at Roing in the Lower Dibang Valley of Arunachal Pradesh. This factory is the first oil palm factory in Arunachal Pradesh and the first oil palm factory in India under NMEO-OP.
National Mission – Oil Palm (NMEO-OP)
- The Government of India launched the National Mission for Edible Oils – Oil Palm (NMEO-OP) in August 2021. The mission is committed to increase oil palm cultivation and increase crude palm oil production to 11.20 lakh tonnes by 2025-26.
- NMEO-OP has made a provision of Rs 5,870 crore specifically for the North Eastern Region region out of the total national budget of Rs 11,040 crore for the promotion of oil palm, where 90% contribution will be made by the Central Government.
- The Oil Palm Mission has been strategically designed to promote oil palm cultivation in new geographical areas and provide comprehensive support to farmers.
- This support includes assistance with planting material, guaranteed buy-back commitments from private companies, and protecting farmers from global price volatility by offering Viability Gap Prices to hedge against risks. The mission is also providing Rs 2,90,000 to farmers for the purchase of harvesting equipment for palm oil cultivation.
- India is currently a net importer of edible oil, with 57 percent of the total edible oil imported from abroad. Inadequacy of edible oil is negatively impacting our foreign exchange reserves and USD 20.56 billion is spent on its import. It has become more important for the country to become self-reliant in the production of edible oil through promotion of oilseeds and palm oil.
- India is currently a net importer of edible oil, with 57% of the total edible oil imported from various countries. Inadequacy of edible oil is having a negative impact of US$ 20.56 billion on our foreign exchange.