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Sustainable Production of Palm Oil
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India spends around ₹70,000 crore every year on the import of about two-thirds of its edible oil consumption. The major chunk of our edible oil import is palm oil, as it is the cheapest in global markets, mainly imported from Indonesia and Malaysia and generally about half the price as that of edible oils like groundnut oil. Now, palm oil accounts for 30% of about 25 million tonnes of total edible oil consumption in India. It is used in all types of food preparations, from bakeries to preparation of food in households.
India tries to reduce its import dependency through the recently announced ₹11,040 crore National Mission on Edible Oils-Oil Palm (NMEO-OP). India’s vast diverse ecology gives plenty of scope for growing palm oil plantations. Currently, the country has only about 8.25 lakh acres under oil palm, while the potential identified for it was 48.25 lakh acres in Andhra Pradesh, Arunachal Pradesh, Andaman, Assam, Chhattisgarh, Karnataka, Odisha, Tamil Nadu, and the other north-eastern states.
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Updated On : 4th Sep, 2021
