Major Features of Edible Oil Economy
There are two major features, which have significantly contributed to the development of
this sector. One was the setting up of the Technology Mission on Oilseeds in 1986 which has been converted into a National Mission on Oilseeds and Oil Palm (NMOOP) in 2014.
As per a decision regarding merger/ conversions or linkage of Schemes/ sub-Schemes/ programmes etc. having similar components such as incentive for seed demonstration, and farm implements including efficient water application
tools covered under NFSM and Oil seeds was merged under revamped NFSM from the year 2018-19.
This gave a thrust to Government's efforts for augmenting the production of oilseeds. This is
evident by the very impressive increase in the production of oilseeds from about 11.3 million tons in 1986-87 to 33.42 million tons in 2019-20. Most of the oilseeds are cultivated on marginal land and are dependent on rainfall and other climatic conditions.
The other dominant feature which has had significant impact on the present status of edible oilseeds/oil industry has been the program of liberalization under which the Government's economic policy allowing greater freedom to the open market and encourages
healthy competition and self regulation rather than protection and control. Controls and regulations have been relaxed resulting in a highly competitive market dominated by both domestic and multinational players
© Owned by Department of Food and Public Distribution, Government of India.
Visitor Counter: 14679059