Godrej Agrovet, a diversified agribusiness conglomerate, announced that it has signed an MoU with the governments of Assam, Manipur, and Tripura to advance and promote oil palm growth in the area under the National Mission on Edible Oils-Oil Palm initiative. The partnership between Godrej Agrovet and the state governments will create new chances for expansion of oil palm plants in these states as well as support for farmers.
Godrej Agrovet signed agreement for palm oil: Key Points
- The Agreements are in keeping with Godrej Agrovet’s long-term goal to be the driving force behind India’s oil mission by doubling farmer income and promoting sustainable expansion of oil palm production.
- In the entire nation, Godrej Agrovet has planted palm oil on over 65,000 acres.
- In the upcoming years, Godrej Agrovet intends to raise this to 100,000 ha.
- Godrej Agrovet’s six oil palm mills, which are dispersed around the nation, manufacture a variety of goods, including crude palm oil, crude palm kernel oil, and palm kernel cake.
- The government had established the National Mission on Edible Oils-Oil in August 2021.
- With a planned investment of Rs 11,040 crore, the Center launched NMEO-OP in August 2021 with the goal of increasing the oil palm area to 10 lakh hectares by 2025–26 and 16.7 lakh hectares by 2029–30, with a special emphasis on the North-East and the Andaman and Nicobar Islands.
Godrej Agrovet: Important Takeaways
- Godrej Agrovet CEO: Adi Burjorji Godrej