Godrej Agrovet Allotted Land For Oil Palm In Sangareddy District Of Telangana

Godrej Agrovet’s (GAVL) Oil Palm business on Tuesday announced that the company has been allotted potential area of 47,000 Acre in Sangareddy District of Telangana, the company announced through an exchange filing.

Allocated by Department of Agriculture and Cooperation (Horti. & Seri.), Government of Telangana, the allotted area will be utilized by the company to expand cultivation of Oil Palm and set up Oil Palm processing units.

Balram Singh Yadav, Managing Director, GAVL said,” 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 plantation 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.”

Recently, GAVL inaugurated an edible oil refinery at Chintalapudi, Eluru district. This is GAVL’s first downstream project for value-added products in oil and fats and will help cater captive needs originating from the company’s oil palm work in the southern states along with demand from other crude palm oil players in the region.

About Godrej Agrovet

Godrej Agrovet Limited (GAVL) is a diversified, Research & Development focused food and agri-business conglomerate, dedicated to improving the productivity of Indian farmers by innovating products and services that sustainably increase crop and livestock yields. GAVL holds leading market positions in the different businesses it operates - Animal Feed, Crop Protection, Oil Palm, Dairy, Poultry and Processed Foods. GAVL has a pan India presence with sales of over a million tons annually of high-quality animal feed.

In the crop protection segment, the Company has strong presence in the B2B segment through its subsidiary Astec Lifesciences and through its extensive distribution network pan-India delivers innovative agrochemical offerings catering to the entire crop life-cycles. In Dairy and Poultry and Processed Foods, the company operates through its subsidiaries Creamline Dairy Products Limited and Godrej Tyson Foods Limited. Apart from this, GAVL also has a joint venture with the ACI group of Bangladesh for animal feed business in Bangladesh.

Godrej Agrovet Shares

The shares of Godrej Agrovet on Tuesday at 2:54 pm IST were at ₹506.40, up by 7.15 percent.