Ruchi Soya signs MoU with Arunachal govt to grow oil palm on 25,000 hectares.

Ruchi Soya Industries, an agriculture and food FMCG company, has signed a memorandum of understanding with the Arunachal Pradesh government to boost palm oil production through development of quality palm plantations and human capacity building.

Ruchi Soya will promote and encourage development of oil palm in 25,000 hectares in zone IV comprising four districts including West Siang, East Kamang, Lower Subansri and Papumpare.

With the agreement, Ruchi Soya Industries now has obtained permission for oil palm development in 45,000 hectares, covering 5 districts in Arunachal Pradesh.

Talem Tapok, Agriculture Secretary, Arunachal Pradesh government, said Ruchi Soya Industries' effort in oil palm development through setting up modern nursery, rising of plantations in farmers is commendable.

Dinesh Shahra, Founder and Managing Director, Ruchi Soya Industries, said, the company is striving to double farmers income by helping them achieve better yield through use of right technology and assistance besides facilitating better realisations for their produce as per Prime Minister Narendra Modi's vision.

India is heavily dependent on import of cooking oils and is all set to import record 15 million tonnes in the current 2015-16 oil year ending October. Out of the 15 million tonnes, palm oil imports alone accounts for 9 million tonnes or 60 per cent. Palm oil accounts for lion's share of the total consumption because it is the cheapest vegetable oil produced and refined globally.

Ruchi Soya is the leading player in oil palm processing with 0.52 million tonne capacity per annum in India, with land access to over 2 lakh hectares of potential oil palm cultivation in India. The company has access to palm plantations in the states of Andhra Pradesh, Telangana, Karnataka, Mizoram, Gujarat, Odisha, Tamil Nadu, Chhattisgarh and Arunachal Pradesh.

HBL