India approves National Mission on edible oils-oilseeds with ₹ 10,103 crore outlay

Mangalore Today News Network

New Delhi, October 4, 2024: The government on Thursday approved National Mission on Edible Oils-Oilseeds with an outlay of ₹ 10,103 crore to make India self-sufficient in cooking oils.

India imports more than 50 per cent of its annual edible oil requirement.

"With an aim to make India self reliant in oilseed production in next 7 years, Cabinet approves National Mission on Edible Oils ’" Oilseeds (NMEO-Oilseeds) for 2024-25 to 2030-31 with outlay of ₹ 10,103 crore," the government said on social media platform X.

The mission aims to increase primary oilseed production from 39 million tonnes in 2022-23 to 69.7 million tonnes by 2030-31, the government said.

"It seeks to extend oilseed cultivation by an additional 40 lakh hectares," it added.

India imports palm oil from Indonesia and Malaysia while soyabean oil is imported from Brazil and Argentina. Sunflower comes mainly from Russia and Ukraine.