Introduction. The article describes the state of agriculture and outlines the most influential branches which need economic development. It was investigated that important reference point is the access to new international markets, updating the material and technical base and the introduction of new technologies into production at the present stage for the economic development of consumer-oriented industries. Oil-fat industry is the most competitive among other branches of agriculture, therefore, it needs development, innovative ways of solving problems and introduction of the latest technologies. The purpose of the paper is to offer innovative ways of developing the oil-fat industry. Results. In order to introduce non-waste production in the industry, it has been proposed to identify a series of interdependent principles and identify strategic directions for the development of oil products production. Based on the method of structural adjustment in the direction of waste production, a conceptual model of the organizational and economic mechanism of non-waste production at the enterprises of oil and fat specialization has been constructed. Conclusions. Waste and production of organic oils are positive levers and directions in the development and modernization of the oil and fat industry. The introduction of such a mechanism will enable the oil and fat industry to expand its production by creating other types of products as a result of the use of oilseed production, and also increase its level of development thus creating more competition in international markets.