Agri and Food FMCG company Ruchi Soya Industries Ltd. said it signed an agreement with the Government of Arunachal Pradesh to boost palm oil production through development of quality palm plantations and human capacity building.
With this agreement, Ruchi Soya Industries Limited now has obtained permission for oil palm development in 45,000 hectares, covering 5 districts in the state of Arunachal Pradesh. Through an MOU signed last year, the company obtained access of 20,000 hectares in Zone III – EastSiang District.
Under the memorandum of understanding (MOU) Ruchi Soya will promote and encourage development of oil palm in 25,000 hectares in zone IV comprising of 4 districts of the state (West Siang, East Kamang, Lower Subansri and Papumpare).
“Allotment of Zone IV will help in upbringing of more palm plantations in the near future which shall not only contribute to employment generation but go along way in strengthening the rural economy by enriching the farmer income levels,” said Pool a Mallesham, Corporate Head, Oil Palm Division of Ruchi Soya Industries Limited.
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.
Ruchi Soya is Indian Agri and Food FMCG company with a turnover of USD4 billion.
It produces 0.52 million metric ton palm oil per annum.
The company has land access to over 2 lakh hectares of palm plantations in the states of Andhra Pradesh,Telangana, Karnataka,Mizoram, Gujarat, Odisha,Tamil Nadu, Chhattisgarh and Arunachal Pradesh.
It focuses on cooking oil and soy foods categories of the country.
Its leading brands include Nutrela, Mahakosh, Sunrich, Ruchi Star.and Ruchi Gold.