The Business Bytes
THEBUSINESSBYTES BUREAU
BHUBANESWAR, APRIL 10, 2025
In a major stride toward transforming Odisha’s agricultural and industrial future, the state government on Thursday signed a landmark Memorandum of Understanding (MoU) with three leading oil palm companies to accelerate large-scale oil palm cultivation. The initiative, spearheaded by Deputy Chief Minister and Minister for Agriculture & Farmers’ Empowerment, Kanak Vardhan Singh Deo, is set to significantly bolster the state’s edible oil production while empowering farmers and attracting new investments.
Signed under the National Mission on Edible Oils – Oil Palm (NMEO-OP), the MoU will pave the way for commercial oil palm plantations across Angul, Dhenkanal, Jajpur, and Cuttack districts. The agreement brings together prominent players in the agri-business sector — Patanjali Foods Limited (Cuttack), Tumfala Agro Products Pvt. Ltd. (Angul), and Liv Palm Resources Pvt. Ltd. (Dhenkanal and Jajpur)—who will bring in technology, expertise, and infrastructure to scale up oil palm farming.
Speaking on the occasion, Deputy CM Singh Deo highlighted the transformative potential of the initiative, stating, “This MoU is a game-changer for Odisha. It will offer our farmers better market prices, generate large-scale rural employment, and contribute to building a stronger, self-reliant economy.”
The project aligns seamlessly with the state’s broader vision of agricultural modernization, rural empowerment, and agro-industrial integration. Singh Deo noted that the initiative would also help Odisha reduce dependence on imported edible oils, enhance agricultural exports, and unlock new opportunities for rural entrepreneurs.
Company representatives reiterated their commitment to introducing cutting-edge farming and processing technologies to maximize oil palm yield and ensure sustainability. The collaborative effort is expected to catalyze inclusive growth while positioning Odisha as a leading contributor to India’s edible oil ecosystem.
The MoU signing ceremony was attended by senior officials including Dr. Arabinda Padhee, Principal Secretary, Department of Agriculture and Farmers’ Empowerment; Shubham Saxena, Director of Agriculture; and Nikhil Pawan Kalyan, Director of Horticulture, among others.
With this strategic partnership, Odisha is poised to usher in a new era of agro-industrial development — transforming its farmlands into hubs of opportunity and innovation in the years ahead.
