Godrej Agrovet Allotted Land for Palm Oil Cultivation in Telangana

Godrej Agrovet’s (GAVL) Oil Palm business has recently announced that it has been granted a potential area of 47,000 acres in the Sangareddy District of Telangana. This allocation was made by the Department of Agriculture and Cooperation (Horticulture & Sericulture) of the Government of Telangana. GAVL intends to utilize this allotted area to expand its cultivation of Oil Palm and establish Oil Palm processing units.

Balram Singh Yadav, Managing Director commented, “We are delighted to receive additional district in the fresh allotment released by the Government of Telangana. It is a testimony of GAVL’s commitment and efforts to boost oil palm plantations and promote farmer prosperity in the region. We would like to thank Government of Telangana for their support and commitment to this initiative which will benefit the farmers.”

Our expertise of more than three decades in the oil palm business has enabled us to provide a variety of resources in addition to educating farmers on sustainable oil palm plantation processes. That said, some more aggression and support from the state would have definitely come a long way in doing its bit to reduce the nation’s dependency on the oil palm imports in the coming years,” he further added.

In a recent development, GAVL inaugurated an edible oil refinery in Chintalapudi, Eluru district. This marks GAVL’s first downstream project for value-added products in the oil and fats sector. The refinery will cater to the company’s internal requirements arising from its oil palm operations in the southern states, as well as meet the demand from other players in the region involved in crude palm oil processing.

Godrej Agrovet Ltd is a prominent and diversified conglomerate in the food and agri-business sector, with a strong focus on research and development. The company is dedicated to enhancing the productivity of Indian farmers through the development of innovative products and services that foster sustainable increases in crop and livestock yields. GAVL maintains leading market positions across various sectors, including Animal Feed, Crop Protection, Oil Palm, Dairy, Poultry, and Processed Foods.

The shares of the company closed at Rs 499.05, up by Rs 25.70 from the previous day’s closing price of Rs 473.35 on BSE. The current market capitalisation of the company is Rs 9592.09 crore.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.