Godrej Agrovet signs MoUs with Assam, Manipur and Tripura to promote oil palm cultivation

Godrej Agrovet signs MoUs with Assam, Manipur and Tripura to promote oil palm cultivation

Godrej Agrovettoday announced that it has signed threeMemorandum of Understand with Assam, Manipur and Tripura state governmentsfor development and promotion of oil palm cultivation in the region under the National Mission on Edible Oils-Oil Palm (NMEO-OP) scheme.

In August 2021, Government of India had launched the National Mission on Edible Oils – Oil Palm (NMEOOP) with planned outlay of ₹ 11,040 Crore. Under this mission, Government has envisaged to raise area under cultivation of oil palm to 10 Lakh hectares by 2025-26 and 16.7 Lakh hectares by 2029-30 with special focus on the North East region and the Andaman and Nicobar Islands.

As partof the MoU signed, Godrej Agrovet NSE 0.55 % will be allotted land across the three states for promotion and development of sustainable palm oil plantations in the region.d support to the farmers.

Balram Singh Yadav, Managing Director, Godrej Agrovetsaid , “With more than thirty years of experience in oil palm business, Godrej Agrovet has been working and educating farmers from North East on sustainable palm oil plantation processes. Currently, we have around 65,000 hectares under palm oil cultivation across the country, which weplan to increase to 1 lakh hectares in the next few years. ”

Balram Singh Yadav, Managing Director, Godrej Agrovetsaid , “With more than thirty years of experience in oil palm business, Godrej Agrovet has been working and educating farmers from North East on sustainable palm oil plantation processes. Currently, we have around 65,000 hectares under palm oil cultivation across the country, which weplan to increase to 1 lakh hectares in the next few years. ”

Sougata Niyogi, CEO – Oil Palm, Godrej Agrovet Limited, added, “We have been invested in promoting and developing north east as a growth market for palm oil cultivation for over a decade. According to industry estimates,these states have utilised less than 1% of its potential. These states promise huge opportunity for growth and improving income of the farming household. With our processing plant in Mizoram, we are prepared to sustainably serve the demand of the north east markets. With the signing of these MoUs (with Assam, Tripuraand Manipur) we are confident that these states will play a key role in positively contributing towards the nation’s need for sustainable palm oil growth. With active support of the state governments we can develop 15000 hectares in four North Eastern NSE 1.43 % states in the next five years. ”

Godrej Agrovet’s palm oil is currently present in Andhra Pradesh, Telangana, Tamil Nadu, Orissa, Goa, Maharashtra, and Mizoram. Its range of products, including crude palm oil, crude palm kernel oil and palm kernel cake, are produced at its six oil palm mills spread across the country.

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