Godrej Agrovet on Thursday entered into a Strategic Partnership Agreement with Sime Darby Plantation Berhad, the company announced through an exchange filing.
Area of Agreement
To combine SDP's Cutting-Edge Research, Development Capabilities and Proprietary Knowledge with Godrej Agrovet Limited’s strong presence and expertise in the Indian Oil Palm Plantation (OPP) Sector.
SDP will supply high-quality oil palm seeds to Godrej Agrovet Limited’s Oil Palm Business Unit(s) and later set up a state-of-the-art seed production unit in India. SDP is the world's largest producer of Certified Sustainable Palm Oil (CSPO), with a production of 1.887 million MT (as of December 31, 2022).
By combining the strengths with SDP's expertise in seed supply and research, Godrej Agrovet Limited aim to revolutionize the Indian Oil Palm Plantation landscape, provide farmers with high-quality planting materials, and help meet the country's growing demand for edible oils.
Godrej Agrovet shares
The shares of Godrej Agrovet on Thursday at 3:30 pm IST were at Rs 474.50, down by 1.05 percent.
