Oilpalm plantations are being cultivated across 44,444 acres in Telangana.
HYDERABAD
In a significant boost for local agriculture, the price of oilpalm fruit has surged to ₹17,043 per tonne. This increase follows the Centre’s decision on September 13 to raise the import duty on non-refined palm oil from 5.5% to 27.5%. Telangana’s request to the Union Agriculture Minister has led to this favorable outcome.
Previously priced at ₹14,392 per tonne, this hike represents an increase of ₹2,651 per tonne, potentially augmenting the income of Telangana’s oilpalm farmers by ₹12 crore each month based on average production rates. Currently, oilpalm plantations span 44,444 acres in the state, yielding an annual production of 2.8 lakh tonnes of oilpalm bunches.
The price increase is projected to benefit approximately 9,366 farmers and is expected to encourage further adoption of oilpalm cultivation. The Telangana government has approved 14 companies to extend oilpalm cultivation efforts, bringing a total of 2.23 lakh acres under oilpalm cultivation, including the ongoing 44,444 acres in the production phase.
Published – October 01, 2024 06:52 pm IST
