Patanjali determined to make India self-sufficient in edible oil production: Ramdev
Friday, 16 June 2023 | PNS | DEHRADUN
Supporting the Government of India’s mission of self-sufficiency in edible oils, Patanjali Foods has taken a massive initiative of palm plantation programme which, in due course of time, will become one of the largest and the most sustainable businesses of the agricultural projects in the country. Yoga Guru Ramdev said this while addressing the media in Palm Plantation Farm and Nursery in Hyderabad on Thursday. He said that as part of its Mission Palm Plantation, Patanjali is aiming to connect with five lakh farmers across the country. He further said that his company has already planted one crore palm saplings. “We will plant in 15-20 lakh acre area in the next five years. Currently, around 40,000 farmers have been associated with Patanjali in the Mission Palm Plantation,” he said, adding that this initiative would help the country to be self-sufficient in edible oil production.
The company is the largest player in the oil palm plantation business in the country on the basis of the allocated area of 0.6 million hectares and planted area of 64,000 hectares, Ramdev said. Going forward, it has set a vision to scale up the plantation area to 0.4 million hectares in the next five years and with this effort, the company is not only making the business more efficient and expanding profitability but it will also support four lakh farmers across the country.
Notably, the company has entered into MoUs with 12 State governments under PPP model which will help it maintain an asset-light business model with sustainable high margins. Any investments made in this business in the next five years will yield benefits for the company over the next 7-25 years, a Patanjali spokesperson said.
