rural
Agriculture

Godrej Agrovet signs MoUs with NE states to promote oil palm cultivation

As part of the MoU signed, Godrej Agrovet will be allotted land across the three states for the promotion and development of sustainable palm oil plantations in the region
Godrej Agrovet signs MoUs with NE states to promote oil palm cultivation
Godrej Agrovet signs MoUs with NE states to promote oil palm cultivation (Representational image: Shutterstock)

Godrej Agrovet, one of India’s leading diversified agribusiness companies, has signed three memorandums of understanding (MoUs) with Assam, Manipur and Tripura state governments for the development and promotion of oil palm cultivation in the region under the National Mission on Edible Oils-Oil Palm (NMEO-OP) scheme.

Godrej Agrovet is a leading oil palm processor in India and works directly with farmers for the entire lifecycle of their crop. In August 2021, the Government of India had launched the National Mission on Edible Oils – Oil Palm (NMEO-OP) with a planned outlay of ₹ 11,040 crores. Under this mission, the 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 part of the MoU signed, Godrej Agrovet will be allotted land across the three states for the promotion and development of sustainable palm oil plantations in the region. The collaboration will bring new opportunities and growth in building oil palm plantations in these three states and would help provide the required support to the farmers.

Highlighting the collaborations, Balram Singh Yadav, Managing Director, Godrej Agrovet said, “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 we plan to increase to one lakh hectares in the next few years. We are confident that the National Mission on Edible Oils – Oil Palm (NMEO-OP) along with active participation of responsible organisations such as Godrej Agrovet will lead to bridging the gap in India’s oil mission.”

Briefing about the initiative, Sougata Niyogi, CEO – Oil Palm, Godrej Agrovet said, “We have been investing in promoting and developing northeast as a growth market for oil palm cultivation for over a decade. According to industry estimates, these states have utilised less than 1 per cent of their potential. These states promise huge opportunities for growth and improving the income of the farming household. With our processing plant in Mizoram, we are prepared to sustainably serve the demand of the northeast markets. With the signing of these MoUs, we are confident that these states will play a key role in positively contributing to the nation’s need for sustainable palm oil growth. With the active support of the state governments, we can develop 15,000 hectares in four North Eastern states in the next five years.”

India is a net importer of palm oil. The lack of domestic production not only puts pressure on the industry and the allied sectors but also on India’s economy. India follows a sustainable model of palm oil plantation which is based on inter-cropping and scientific farming processes. Most of the oil palm cultivation in the country is done by converting paddy fields which have been contributing to surplus produce.

Godrej Agrovet’s palm oil business 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.

Read more: Dhanuka Group launches ‘India ka Pranam Har Kisan ke Naam’ campaign

RuralMarketing.in is now on Telegram. Click here to join Rural Marketing on Telegram and stay updated with the latest news and updates on rural business and the economy.

0 Shares
The Changing Face of Rural India