40K Oil Palm sprouts bought from Singapore, Malayasia, Thailand: Harish Rao

Siddipet: Finance Minister T Harish Rao has said that 40,000 Oil Palm sprouts were bought from Malaysia, Singapore and Thailand countries to Telangana as the State aims to meet the target of cultivating Oil Palm in over 50,000 acres in Siddipet district in the next few years. Addressing the Oil Palm farmers during a programme […]

Siddipet: Finance Minister T Harish Rao has said that 40,000 Oil Palm sprouts were bought from Malaysia, Singapore and Thailand countries to Telangana as the State aims to meet the target of cultivating Oil Palm in over 50,000 acres in Siddipet district in the next few years.

Addressing the Oil Palm farmers during a programme organised by Horticulture and Sericulture departments at Chandalapur village of Chinnakodur Mandal on Thursday, the Minister said that they have also requested the irrigation department to allot 50 acres of land for the Oil Palm nursery at Ranganayaka Sagar project.

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Saying that as many as 622 farmers had taken up Oil Palm plantation in over 3,000 acres in the district so far, Rao said that Rs 81,000 was being extended as subsidy to each acre to farmers who were cultivating Oil Palm in less than 5 acres and Rs 24,800 per acre to those farmers who were cultivating in more than 5 acres. With an objective to encourage Oil Palm cultivation across Telangana, the Minister said that Rs 1,000 cr was allocated in the 2022-23 budget for Oil Palm cultivation towards subsidy and other expenses.

Sensitising the farmers on the profits of Oil Palm cultivation, Rao said that the farmers can reap the benefits for 30 years since the Oil palm tree gives harvest for three decades. He further said that there was a great demand for Oil Palm in the country because a majority of the Oil Palm is being imported from different countries. To process the Oil Palm, the Minister said that they will soon start the installation of the Oil Palm mill at Narmetta in Siddipet district.

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