Gwalior (Madhya Pradesh): Union agriculture minister Narendra Singh Tomar on Thursday said the central government has decided to boost the palm oil production in the country and also to reduce its expensive imports.
Tomar said that the union cabinet has approved the National Mission on Edible Oils- Oil Palm scheme. “The government will fix the price on the lines of the minimum support price (MSP). In case of market volatility, farmers will be paid the price difference for their produce via direct benefit transfer,” Tomar told journalists in Gwalior on Thursday.
He further added that over Rs 11000 will be invested. “Nearly 28 lakh hectares of land is notified across the country for cultivation of palm oils. Of which, 9 lakh hectares of land is only in the north-east. The government would give subsidies to those setting up palm oil industries in north-east states,” he said.
He said that the scheme proposes to cover an additional area of 6.5 lakh hectares under palm oil cultivation by 2025-2026 and another 6.7 lakh hectares by 2029-30.
