National Mission on Edible Oils - Oil Palm (NMEO-OP)
The National Mission on Edible Oils - Oil Palm (NMEO-OP) was launched in August, 2021.
Objective
To augment the availability of edible oil in the country by harnessing area expansion and through price incentives.
To cover an additional area of 6.5 lakh hectares for oil palm till 2025-26 and ultimately reach the target of 10 lakh hectares.
The production of Crude Palm Oil (CPO) to go up to 11.20 lakh tonnes by 2025-26 and up to 28 lakh tonnes by 2029-30.
Features
Under the scheme, for the first time, Government will give a price assurance to the oil palm farmers for the Fresh Fruit Bunches (FFBs) which will be known as the Viability Price (VP).
Significance
It will protect the farmers from the fluctuations of the International CPO prices.