Diversified agri-business conglomorate Godrej Agrovet on Tuesday said it has signed memorandum of understanding (MoU) with the governments of Assam, Manipur and Tripura to develop and promote oil palm cultivation in the region under the National Mission on Edible Oils-Oil Palm scheme, the company said in its press release.

The collaboration will lead to new opportunities and growth in building oil palm plantations in these states and help provide support to farmers. The Agreements  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 doubling of farmers' income. Currently,

Godrej Agrovet has around 65,000 ha under palm oil cultivation across the country. It plans to increase this to 100,000 ha in the next few years. 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.

 In August 2021, the government had launched the National Mission on Edible Oils-Oil In August 2021, the Centre had launched NMEO-OP with a planned outlay of Rs 11,040 crore for raising oil palm area to 10 lakh hectare by 2025-26 and 16.7 lakh hectare by 2029-30 with special focus on North-East and the Andaman and Nicobar Islands.

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