Business summit on NMEO-OP in Hyderabad on Dec 28

Hyderabad: India is in the second position in consumption of palm oil at 10.2 million tonnes after Indonesia (12.75 million MT). Of the total imports, palm oil accounts for 60 per cent worth Rs 60,000 to Rs 70,000 crore per annum. The crude palm oil production in the country is about 2.5 lakh tonnes annually […]

Hyderabad: India is in the second position in consumption of palm oil at 10.2 million tonnes after Indonesia (12.75 million MT). Of the total imports, palm oil accounts for 60 per cent worth Rs 60,000 to Rs 70,000 crore per annum.

The crude palm oil production in the country is about 2.5 lakh tonnes annually while the demand is over 100 lakh tonnes. To attain self-sufficiency, oil palm has to be cultivated in about 70 lakh acres. Telangana and Andhra Pradesh are the major cultivators of oil palm in the country. To increase palm oil production by three times to 11.20 lakh MT by 2025-26 and up to 28 lakh tones by 2029-30, the Central government launched a new scheme — National Mission on Edible Oils – Oil Palm (NMEO-OP).

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The scheme is aimed at benefiting oil palm farmers, increasing capital investment, creating employment generation, reducing import dependence and also increasing the income of farmers. To give wide-spread information on the newly-launched scheme and business opportunities in the oil palm sector, a business summit is being organised in Hyderabad on Tuesday.

The summit is aimed at covering nine oil palm growing States including Telangana, Andhra Pradesh, Karnataka, Tamil Nadu, Kerala, Odisha, Gujarat, Chhattisgarh and Goa. The Summit will be chaired by union Minister of Agriculture & Farmers Welfare Narendra Singh Tomar. About 250 delegates are expected to participate in the summit. The agenda of the summit is to have meaningful discussions and to chalk out an action plan for the oil palm industry.

Self-reliance

– Telangana is first in Oil Extraction Rate with 19.22 % (2020-21) in the country, sixth in oil palm area (52,834 acres) and second in production of fresh fruit bunches (2.38 lakh MT)

– The price of fresh fruit bunches in December 2021 was Rs 17,687 per tn

– Production of crude Palm Oil in State is around 45,000 MT as against 3.66 Lakh MT requirement

– Centre has so far notified 10.77 lakh acres for Telangana

– In Telangana, 11 oil palm companies are operating in 26 districts

– Two processing units are operated by TS Oilfed with a capacity of 30 MTs per hour each at Ashwaraopet and Apparaopet of Bhadradri-Kothagudem district

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