OPDPA (Oil Palm Developers and Processors Association), the nodal agency for Oil Palm development in India, hailed the AP Government’s move for sanctioning funds to the tune of Rs 80.32 crore towards 1.7 per cent OER for the year 2018 -2019.
Oil Palm companies will receive the differential amounts as per their respective FFB purchase from farmers, this amount in turn will be reimbursed to the farmers at 1.7 per cent OER, said a press release.
President of the Oil Palm Developers & Processors Association, Sanjay Goenka expressed his happiness on releasing funds for Oil palm farmers and said, ‘It is a very positive move by the government and we thank the Andhra Pradesh Chief Minister YS Jagan Mohan Reddy for releasing funds to tune of 76.01 crore on behalf of the state Government to cover the price differential for oil palm farmers. This will not only boost the incomes of the farmers but also act as positive step towards motivating them to continue to expand cultivation of this highly productive and beneficial crop.’