CABINET APPROVES NMEO OILSEEDS FOR SELF-RELIANCE

In a significant move, the Union Cabinet chaired by Prime Minister Narendra Modi on Thursday approved the National Mission on Edible Oils-Oilseeds (NMEO-Oilseeds), an initiative aimed at boosting domestic oilseed production and achieving self-reliance in edible oils, according to an official statement.

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The mission will be implemented over seven years, from 2024-25 to 2030-31, with a financial outlay of Rs 10,103 crores, it said.

The newly approved NMEO-Oilseeds will focus on enhancing the production of key primary oilseed crops such as Rapeseed Mustard, Groundnut, Soybean, Sunflower, and Sesamum, as well as increasing collection and extraction efficiency from secondary sources like Cottonseed, Rice Bran, and Tree Borne Oils.

The mission aims to increase primary oilseed production from 39 million tonnes (2022-23) to 69.7 million tonnes by 2030-31.

Together with NMEOOP (Oil Palm), the mission targets to increase domestic edible oil production to 25.45 million tonnes by 2030-31 meeting around 72 per cent of the projected domestic requirement.

This will be achieved by promoting adoption of high-yielding high oil content seed varieties, extending cultivation into rice fallow areas, and promoting intercropping. The mission will harness ongoing development of high-quality seeds by using cutting-edge global technologies such as genome editing, the statement said.