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Godrej Agrovet signs MoU with Assam, Manipur and Tripura Governments under NMEO-OP scheme

Kolkata:  Godrej Agrovet, one of India’s largest diversified agribusiness company, 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.
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 ₹ 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.

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 the signing of these MoUs (with Assam, Tripura and
Manipur) 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 active support of the state governments
we can develop 15000 hectares in four North Eastern states in the next five years. ”

India is a net importer of palm oil. The lack of domestic production not only puts a pressure on
the industry and the allied sectors but also on India’s economy. India follows a sustainable
model of palm oil plantation which is based on intercropping and scientific farming processes.
Most of the palm oil cultivation in the country is done by converting paddy fields which have
been contributing towards surplus produce.

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.