The Fortune India
Business

Value Oil Expands Oil Palm Cultivation in Telangana and Andhra Pradesh

Value Oil and Gas Services Pvt. Ltd., a prominent player in India’s Oil Palm Plantation sector, has inked Memorandums of Understanding (MOUs) with the governments of Telangana and Andhra Pradesh to enhance oil palm cultivation in the districts of Ranga Reddy and Palnadu, respectively.

Partnering with Farmers and Expanding Cultivation and Processing

Value Oil aims to collaborate with regional farmers to establish a minimum of 20,000 hectares of oil palm plantations. The proposed initiative includes importing best-in-class planting material and establishing Oil Palm nurseries, one-stop solution centres for farmers for input and advisory, FFB collection centres, and a cutting-edge palm oil mill in the state, with investments exceeding Rs 500 crore over the project development period. The envisaged palm oil mill will create over 1200 direct and indirect employment opportunities.

Yugandhar Raghu, Managing Director, stated, “Value Oil will assist farmers by setting up nurseries for palm seedling distribution and offering agricultural extension services. We will institute a comprehensive farmer outreach program to provide technical support for palm oil cultivation and introduce best-in-class farming practices aligned with the company’s global sustainable and regenerative agriculture principles.”

Leveraging Expertise for National Progress

With extensive experience in the palm oil sector, Value Oil is well-equipped to contribute to India’s objective of curbing edible oil imports.

Telangana’s Growing Palm Oil Landscape

Presently, 2,00,000 acres in Telangana are dedicated to oil palm cultivation. The central government has set an additional target of 11.82 lakh acres across 31 districts in the state, with 14 companies already allocated zones. The Telangana State Oil Palm Mission aims to expand oil palm cultivation to over 20 lakh acres by 2024-2025.

Value Oil’s expansion into Telangana and Andhra Pradesh underscores its commitment to bolstering India’s self-sufficiency in edible oils and empowering local farmers. By leveraging its expertise and collaborating with governments, the company aims to play a pivotal role in shaping a sustainable and secure future for the nation’s edible oil industry.

Related posts

Marcadors Celebrates Profitability and Expansion After 2 Years of Steady Growth

The Fortune India

A Kitchen Mishap Led to Healthy Revolution: The Indus Valley Story

The Fortune India

Stock Alert: Bodhi Tree Leaps from 18 to 450 Rupees Post Netflix Collaboration

The Fortune India

Drychem Achieves Remarkable Milestone as ‘RISE with SAP S/4 HANA’ Integration Goes Live

The Fortune India

Empowering Connections: Shaping the Future of Personal Branding and Event Excellence with Koffee Connections Personified

The Fortune India

LANXESS expects earnings improvement for fiscal year 2024

The Fortune India

Leave a Comment