Patanjali Foods lays foundation for oil palm mill in Arunachal Pradesh

Patanjali Foods Ltd, erstwhile Ruchi Soya Industries, on Wednesday said it has laid foundation stone for setting up oil palm mill in Arunachal Pradesh and will do cultivation in 3.2 lakh hectare area in the North-East states. The company did not give details on its investment plans.
The foundation stone has been laid by Tage Taki, Minister of Agriculture, Government of Arunachal Pradesh. The mill is located at Industrial Growth Centre, Niglok, District - East Siang, Arunachal Pradesh, according to a regulatory filing.

Patanjali Foods plans to undertake oil palm plantations on 38,000 hectares of land across nine districts in Arunachal Pradesh. It has already established two nurseries at Pasighat and Holangi and is in the process of establishing three more nurseries in Lower Siang District at Kherram, FTC and Dipa.

"This will give impetus to the state economy and will bring tremendous employment generation along with an increase in local farmers' income," the company said.

Patanajali Foods said it plans to undertake large-scale cultivation of oil palm plantations on 5 lakh hectares in India, out of which 3.2 lakh hectare area will be in the North Eastern region.

Patnajali's North-East oil palm programme will immensely benefit the state's economy for over next 30 years. The key benefits include -- average annual production of around 7.5 lakh tonnes palm oil, saving of about Rs 10,500 crore of forex outgo annually and employment generation for nearly 5.8 lakh persons.

Patanjali Foods is one of the largest palm oil plantation companies in India. It has access to palm plantation in 55 districts across 11 states, namely Andhra Pradesh, Telangana, Karnataka, Gujarat, Odisha, Tamil Nadu, Chhattisgarh, Arunachal Pradesh, Assam, Mizoram and Tripura.

The company has a 60,000-hectare area under palm plantation.

Patanjali Foods Ltd, is a large diversified conglomerate with business interest across edible oil and derivatives, oil palm plantation, Food & FMCG and Nutraceutical business.

In FY'22, the company revenue stood at Rs 24,205 crore, registering growth of 48 per cent compared to previous financial year. PTI MJH DRR