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Tuesday / November 19. 2024

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Company News, India, Oilseeds

GAVL will be investing Rs 300 Crore over the next 3-4 years in setting up the integrated palm oil complex.

Godrej Agrovet Limited’s (GAVL) Oil Palm business announced that the company will be setting up an Integrated Palm Oil Complex in the state of Telangana. To be set up in the Khammam district, it will consist of a state the of art Crude Palm Oil mill along with the provision of setting up a refinery in the near future. GAVL will be investing Rs 300 Crore over the next 3-4 years in setting up the integrated palm oil complex. Additionally, through its Samadhan Centers – a one stop solution for oil palm farmers, the company would also provide advisory services on best practices / modern technologies, farm inputs (such as fertilizers, drip irrigation, pesticides, seeds, and harvesting tools) and services under one roof. The company’s partnership with the State Bank of India would also support Oil Palm Plantation farmers during the gestation period. With 65,000 hectares of palm oil under cultivation across the country, GAVL plans to increase cultivation to 1.2 Lac hectares by 2027.

The company will also establish a nursery with a capacity of up to 7 Lac saplings per year in addition to the seed production & research unit. At the complex, GAVL will be setting up first-ever seed garden in India. This seed garden can provide seeds for the planting of 90,000 acres of area and shall help Telangana state to achieve targets for oil palm plantation.

Present on the occasion of laying the foundation stone for Crude Palm Oil mill were K. T. Rama Rao, Minister for Municipal Administration & Urban Development, Industries & Commerce, and Information Technology of Telangana; Burjis Godrej, Executive Director and COO-Crop Protection Business, GAVL; Sougata Niyogi, CEO – Oil Palm, GAVL and Rakesh Swami, Group President Corporate Affairs, Godrej Industries Limited.

“Telangana’s ambitious oil palm mission aims to bring 20 lakh acres under cultivation across the state. The mission will improve income for more than 5 lakh farm households while at the same time contributing to the nation’s deficit for edible oils. Along with being the rice bowl for the country, Telangana is all set to become the largest edible oil producer in India. We are delighted to partner with a strong and reliable partner like Godrej Agrovet in this endeavour. Their expertise in the oil palm sector will definitely help us achieve our goals of unleashing a yellow revolution”, said K. T. Rama Rao, Minister for Municipal Administration & Urban Development, Industries & Commerce, and Information Technology of Telangana.

Commenting on the announcement, Balram Singh Yadav, Managing Director, GAVL said, “Leveraging our expertise of more than three decades in the oil palm business, we intend to handhold oil palm farmers by providing them access to quality seedlings and nursery. With our plans of commissioning of Crude Palm Oil mill in the coming years, it is our honour to set up country’s first integrated palm oil complex in the state of Telangana”.

GAVL will be investing Rs 300 Crore

AgroPolicy, Agrotech, Company News, Oilseeds

The collaboration will bring new opportunities and growth in building oil palm plantation in Assam, Manipur and Tripura.

Godrej Agrovet, one of India’s largest diversified agribusiness companies, today announced that it has signed three MoUs (Memorandum of Understand) 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.

In August 2021, Government of India had launched the National Mission on Edible Oils – Oil Palm (NMEOOP) with planned outlay of Rs 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 part of the MoU signed, Godrej Agrovet will be allotted land across the three states for promotion and development of sustainable palm oil plantations in the region. The collaboration will bring new opportunities and growth in building oil palm plantation in these three states and would help to provide the required support to the farmers.

Balram Singh Yadav, Managing Director, Godrej Agrovet Limited, 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 1 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.”

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 active support of the state governments, we can develop 15000 hectares in four North Eastern states in the next five years.”

The collaboration will bring new opportunities and