Godrej Agrovet, one of India’s largest diversified agribusiness company, 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.
Godrej Agrovet is the largest oil palm processor in India and works directly with the farmers for the entire lifecycle of their crop. The MoUs are in line with Godrej Agrovet’s 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, 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 state and would help to provide the required support to the farmers. 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.
