The State Government has signed an MoU with Ingaran Bio-Tech for oil palm cultivation in the State.
The MOU was signed here last week between Ingaran Bio-Tech Pvt ltd, Kakinda, Andhra Pradesh, and the Directorate of Horticulture, Odisha for expansion of oil palm cultivation area in Subarnapur district. Minister of Agriculture Debi Prasad Mishra was present. As per the MoU, Ingaran Bio-Tech would cultivate oil palm in 2,500 hectares of land in Subarnapur district.
It may be noted that the State Government has set a target to undertake oil palm cultivation on 30,000 hectares of land by the end of the 12th Five-Year Plan.
Oil palm cultivation is now undertaken on 12,358 hectares of land while it would be cultivated in 5,000 hectares of land in the current year (2013-14).
The State Government wants cluster-based oil palm cultivation in river basins and in the areas where bore-wells are available.
It has also been decided to increase the area under oil palm cultivation because of its growing demand in the State.
There are five palm oil processing units functioning in 14 districts in the State which have signed agreements with the Government to purchase palm and provide exact charge of it.