Godrej Agrovet signs MoUs with three North-Eastern States for oil palm cultivation

Diversified agribusiness company, Godrej Agrovet, has signed MoUs (Memorandum of Understanding) with Assam, Manipur and Tripura State governments for development and promotion of oil palm cultivation in the region under the National Mission on Edible Oils-Oil Palm (NMEO-OP) scheme.

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 to provide the required support to the farmers, the company said in a press statement.

Godrej Agrovet is the largest oil palm processor in the country and works directly with the farmers for the entire lifecycle of their crop. The MoUs are in line with the company’s long-term strategy to be the catalyst of India’s oil mission through sustainable growth of oil palm production and doubling of farmers’ income.

According to Balram Singh Yadav, Managing Director, Godrej Agrovet, with more than thirty years of experience in oil palm business, the company has been working and educating farmers from North-East on sustainable palm oil plantation processes. Currently, it has around 65,000 hectares under palm oil cultivation across the country, and it plans to increase it to 1 lakh hectares in the next few years.  

NMEO-OP scheme

The Centre had launched the NMEO-OP scheme in August 2021 with a 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 FY26 and 16.7 lakh hectares by FY30 with special focus on the North-East region and the Andaman and Nicobar Islands.

“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 one per cent of its potential. These States promise huge opportunities 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 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 15,000 hectares in four North-Eastern States in the next five years,” Sougata Niyogi, CEO – Oil Palm, Godrej Agrovet, said in the statement.

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 intercropping and scientific farming processes. Most of the palm oil cultivation in the country is done by converting paddy fields which have been contributing towards surplus produce.

Godrej Agrovet’s palm oil production 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.

Published on

August 22, 2022

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