Cabinet approves implementation of National Mission on Edible | UPSC Current Affairs Daily

Cabinet approves implementation of National Mission on Edible Oils – Oil Palm

National Mission on Edible Oil-Oil Palm (NMEO-OP) is a new centrally sponsored scheme that was announced on August 15, 2021
The scheme basically aims at self-reliance in edible oil and has been allocated an outlay of Rs. 11, 040 crore over a five-year period.
Out of this, the centre will provide Rs 8,844 crore and the states’ share is Rs 2,196 crore.
The aim of the scheme is to raise the domestic production of palm oil by three times to 11.20 lakh tonnes by 2025-26 and to 28 lakh tonnes by 2029-30.
The scheme has a special focus on the Andaman and Nicobar Islands and the Northeastern region of India.
The scheme has been announced at a time when the prices of edible oils have been rising over the past few months.
There was a 52% hike in the prices in July 2021 compared to the same time last year.
It is proposed to have an additional 6.5 lakh hectares for palm oil by 2025-26. The ultimate target is to reach 10 lakh hectares.

SOURCE: PIB