Oil Palm | Photo courtesy: Pascal Maitre/National Geographic

The Oil Palm Developers and Processors Association (OPDPA), the nodal agency for oil palm cultivation in India, lauded the “landmark reforms” by the Union government on the promotion of oil palm in India.

“OPDPA congratulated the prime minister and the government on meeting all its demands to bring far-reaching benefits not only for the farmers but also to the economy in line with the Aatmanirbhar vision. It took multiple efforts to ensure the required promotion of oil palm which offers multiple benefits to the country,” a press release form OPDPA said.

The industry which is capable of making India self-reliant in its edible oil requirement, could additionally enhance the income of the farmers and save precious forex for the exchequer due to high dependency on the imports, the statement added.

The announcement by the Union government on August 18 included approval for Rs 11,040 crore National Mission on Edible Oils-Oil Palm to boost palm oil production in India and reduce dependence on expensive imports from South East Asia.

Commenting on the Cabinet decision, Sanjay Goenka, president at OPDPA said: “OPDPA as the nodal agency has been relentlessly pursuing the government to bring about reforms in the sector to help create a sustainable environment for the farmer and the industry – be it the pricing mechanism or other subsidy measures towards increasing the crop cultivation. Benefit of announcement will accrue to the farmer – the most important stakeholder in making oil palm cultivation widespread a reality and whose welfare the association has been fighting for.”

“Today’s announcement by the government will have a tremendously positive impact on the sector making it viable for the industry to continue to contribute towards being self-sufficient in our edible oil requirements and I turn having a huge impact on foreign exchange savings,” Goenka added.

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