Karnataka-based, MK Agrotech and M11 Industries Pvt. Ltd launch an extensive Oil Palm Plantation programme in Odisha

Bhubaneswar : Karnataka-based MK Agrotech Pvt Ltd, a leading edible oil and food company in India and M11 Industries, today announced the launch of its ambitious oil palm plantations programme in Odisha. The Karnataka-based companies signed a Memorandum of Understanding (MoU) with the Government of Odisha under the National Mission on Edible Oils – Oil Palm (NMEO-OP). The oil palm plantation programme has been launched in Nuapada and Bolangir districts, with 31 farmers already on board. By 2029-30, the plan is to commence a palm oil mill in the state, with FFB processing capacity of 10 Metric Tons per Hour (TPH) initially. In fact, M11 industries Pvt Ltds team has initiated, in full swing, identifying progressive and interested farmers for oil palm plantations in Bolangir and Nuapada district in Odisha.

This will be followed by dedicated trainings, technical supports and capacity building along with assistance in establishment of nurseries and supply of quality planting materials to farmers. Micro irrigation will be the game changer and the focus is to ensure the farmers have irrigation systems installed in their farms. Technically sound with experience extension team has been discharging their job responsibilities day and night indefatigably in this arena of oil palm extension and development.The oil palm plantations will be productive to a greater extent in Bolangir and Nuapada districts as they come into contact with the oil palm farmers from the neighbouring Bargarh district with almost similar climatic and soil conditions. The farmers in Bargah are extremely happy with oil palm plantation, thanks to the returns and profits theyre making, limited marketing, less-labour-intensive crop and threefold increase in profit than paddy. Currently, India is the largest importer of edible oils in the world. In 2020-21, India imported about 13.35 million tonnes of edible oils worth INR 80,000 crore. Among the imported edible oils, the share of palm oil is the highest (60%), followed by soybean oil (25%), and sunflower (15%). Domestic edible oil production has not been able to keep pace with the growth in yearly consumption, which has exceeded 25 million tonnes.

Elaborating on MK Agrotech Pvt Ltds strategic decision to foray into oil palm plantations in Odisha, Mannan Khan, Director, MK Agrotech Pvt Ltd said, Oil palm-originated from West Africa is comparatively a new crop in India and around nine million tonnes or more- of palm oil have been imported every year. Interestingly, Oil Palm has the capability to produce highest oil yield per hectare per year. In comparative terms, its yield is more than three times than the average oil yield per hectare per year we do receive from domestic traditional oilseeds. Over the decades, the Government of India has been making continual efforts to expand the area under cultivation of oil palm across various states in India in order to maximise the domestic production of edible oils and to bring down the excessive reliance on imports.