India’s first integrated Oil Palm Processing Unit by 3F Oil Palm starts commercial operations

India’s first integrated Oil Palm Processing Unit by 3F Oil Palm starts commercial operations

Daily Current Affairs   /   India’s first integrated Oil Palm Processing Unit by 3F Oil Palm starts commercial operations

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Category : Miscellaneous Published on: March 19 2024

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  • Prime Minister Narendra Modi virtually inaugurated India's first integrated oil palm processing unit, operated by 3F Oil Palm, in Arunachal Pradesh's Roing, signaling a significant stride towards self-reliance in edible oils.
  • The integrated Oil Palm project includes a state-of-the-art oil palm factory, a zero-discharge effluent plant, and a palm waste-based power plant, with supporting structures and go-downs, aimed at achieving Atmanirbharta (self-reliance) in edible oils and empowering farmers, especially in the Northeast region.
  • 3F Oil Palm has invested Rs 100 crore in the region, with plans to invest Rs 1100 crore by 2030, generating employment opportunities for 1,700 people. Arunachal Pradesh alone has identified 1,30,000 hectares of suitable land for Oil Palm cultivation.
  • India's heavy reliance on imported palm oil, constituting 67% of the country's edible oil import bill, surpassing Rs. 1 Lakh crore, underscores the significance of the NMEO-Oil Palm Policy, which aims to promote domestic cultivation, particularly in the Northeast, to reduce dependency on imports.
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