India's Edible oil Problem & the goal of self-sufficiency India occupies a prominent place among the oil producing countries in the world, both with regards to acreage and production. India has the 4th largest edible oil economy in the world, constitutes about 10 per cent of the world oilseeds production, 6-7% of the global production of vegetable oil, and nearly 7 percent of protein meal. This sector occupies an important place in the Indian agricultural sector, covering an area of about 26.5 million hectares, constituting about 14.8 per cent of the gross cropped area in the country. Today, India, once a net exporter of vegetable oils, has become the world's largest importer of vegetable oils, in spite of having the land, the resources, a ready market and the ability to achieve self-sufficiency earlier. With a view to augment the availability of edible oils by increasing production and productivity of oilseeds and oil palm, the government has announced a new national initiative on palm oil production named National Edible Oil Mission-Oil Palm (NMEO-OP) for achieving self-sufficiency in edible oils, involving an investment of over Rs 11,000 crore.