April 22 2016, 17.13 PM IST || Pocket News Alert
· Relentless recommendations by OPDPA/Farmers and the state government leads to implementation of MIS on Oil Palm Fresh Fruit Bunches (FFB) to Rs.7888 per ton
· OPDPA continues to raise voice for additional measures to accelerate the growth of Oil Palm industry
Chandigarh, 22 April 2016: The Oil Palm Developers and Processors Association (OPDPA), the nodal body for oil palm development in India, applauded the move of the Central Government to assist the Palm Oil farmers by implementing a Market Intervention Scheme for Fresh Fruit Bunches (FFB) of Oil Palm to Rs.7888 per ton. Declining crude oil prices over the past year has been the bane of the industry, and has resulted in severe distress for both farmer and industry. OPDPA has made continuous recommendations to the Government, fighting for the cause of the farmers during this time of globally falling commodity prices. OPDPA has been constantly persuading the state and the central Governments to introduce Minimum Support Price (MSP) or Market Intervention Scheme (MIS) to help farmers withstand external conditions.
Commenting on this development Mr. Sanjay Goenka, President – OPDPA said; “The announcement of MIS by the government is a huge relief for the farmers and also for the industry which has been bleeding over the last season. OPDPA’s agenda will continue to pursue the cause of getting the much required changes made to existing policies, enhance subsidies and to undertake other significant initiatives to help sustain this important industry.”
This move is a welcome respite for the farming community in India.
India’s dependence on vegetable oils is growing at an alarming rate and is expected to grow to 22 million tons by 2020. Today, India has more than 2 lakh hectares under oil palm cultivation, with an additional potential of around 2 million hectares. The industry already employs 20,000 people and has the potential to create 2, 00,000 jobs
About OPDPA: The Oil Palm Developers and Processors Association(OPDPA) is a consortium of companies that include 3F Oil Palm Agrotech Pvt. Ltd.,Godrej Agrovet Ltd., Navbharat Oils Ltd., Radhika Vegetable Oils Pvt. Ltd. and Ruchi Soya Industries Ltd., established to work towards the growth of the Oil Palm Industry. Despite a challenging policy and regulatory environment, over the last 2 decades the industry has grown from a ‘0’ hectares in oil palm then to a respectable 200,000 hectares across several states including the North East. The industry has a huge potential to help India bridge the country’s edible oil deficit, generate several thousand jobs and help in nation building.