Godrej Agrovet eyes big oil palm plantation potential in north-eastern states
Godrej Agrovet aims to expand its oil palm cultivation area by 60,000 hectares by 2030, targeting a total of 130,000 hectares. Half of this growth is expected from northeastern states like Assam, Tripura, and Nagaland. The company’s oil palm business contributed ₹1,500 crore to its ₹9,600 crore turnover last year.
Godrej Agrovet, which has set a target to bring in additional 60,000 hectares area under oil palm by 2030 from current 70,000 hectares, expects half of the increased coverage to be contributed by north-eastern states like Assam, Tripura and Nagaland, said Sougata Niyogi, CEO of oil palm plantation division of the company.
Godrej Agrovet’s turnover was about ₹9,600 crore last year in which the oil palm business contributed about ₹1,500 crore. With an assured and sustainable income for farmers, shifting to oil palm is taking shape, though slowly, Niyogi told businessline in an interview.
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Source : The Hindu Business line
