PM to Invest Over Rs 11000 Crore on National Edible Oil Mission

PM Modi has announced a special mission to attain self sustenance in the production of cooking oils, including palm oil as wants to reduce India’s dependence on edible oil Imports. 

Prime Minister on 9th august 2021 announced a National Edible Oil Mission – Oil Palm to make India self sufficient in cooking oils while addressing a virtual event on PM Kisan Scheme. He said over Rs 11,000 crore will be invested on this mission. 

This has come after the edible oil prices have been increasing since the last six months. B.V. Mehta, Executive Director, Solvent Extractors Association of India said the rates of the edible oils are unlikely to come down anytime soon as India meets more than half of the domestic demands through imports and the prices of edible oils in international market have surged sharply due to various factors. 

A total of Rs 19,500 has already been transferred to over 9.75 Crore farmers under the government’s scheme- PM KISAN. He aims to make India Atma-Nirbhar or self sufficient in Edible oil production just how India achieved self sufficiency in Rice, Wheat and sugar production. 

Prime Minister said the government will ensure that the farmers get all facilities, from quality seeds to technology to promote farming to produce palm oil and other oil seeds. India is heavily dependent on imports of edible oil to meet the domestic demand and the palm oil imports constitute of 55%. 

PM said that we spend thousand and crores of rupees on edible oil imports, this money should rather go to the farmers of our country instead.

He also said that the north eastern states and Andaman & Nicobar could be promoted for palm farming as these states have appropriate weather conditions for its cultivation. 

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