Kolkata
Godrej Agrovet, one of India’s largest diversified agribusiness companies, announced today that it had signed three 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.
The largest oil palm processor in India, Godrej Agrovet works directly with the farmers for the entire lifecycle of their crop. The MoUs are in line with its long-term strategy to be the catalyst in India’s oil mission through sustainable growth of oil palm production and double farmer’s income.
In August 2021, the Government of India launched the NMEO-OP with a planned outlay of Rs 11,040 crore. Under this mission, it has envisaged raising the area under cultivation of oil palm to 10 lakh hectares by 2025-26 and 16.7 lakh hectares by 2029-30 with a special focus on the Northeast region and the Andaman and Nicobar Islands.
As part of the MoU, Godrej Agrovet will be allotted land across the three states for the promotion and development of sustainable oil palm 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.
Balram Singh Yadav, Managing Director, Godrej Agrovet Limited, said, “With more than thirty years of experience in (the) oil palm business, Godrej Agrovet has been working and educating farmers from (the) Northeast 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 1 lakh hectares in the next few years.”
Sougata Niyogi, CEO – Oil Palm, Godrej Agrovet Limited, said, “We have been invested in promoting and developing (the) Northeast as a growth market for palm oil cultivation for over a decade. According to industry estimates, these states have utilized less than 1 per cent of (their) potential. These states promise (a) 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 Northeast 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 (the) active support of the state governments, we can develop 15000 hectares in four North Eastern states in the next five years,” Niyogi added.