Telangana Industries and IT Minister, KT Rama Rao, has urged the vegetable oil industry to invest in Telangana. “We have targetted to grow oil palm in 20 lakh acres in the next five years. We are also promoting food processing zones. We invite you to invest in Telangana,” he said.
Addressing a global roundtable organised by the Indian Vegetable Oil Producers’ Association (IVPA) in Hyderabad on Friday, he promised to offer tailor-made incentives for those willing to invest in the State.
Telangana Agriculture Minister, S Niranjan Reddy, said the State was targeting to cover 1.75 lakh acres under oil palm plantations this year. “Heavy rains have disrupted the pace. But we are confident that we will achieve the target for the year by the end of February 2023,” he said.
He said 25 out of the 33 districts in the State were found to be suitable for the cultivation of oil palm. “There were apprehensions about the prospects of growth of oil palm in Telangana. We had asked the Centre to set up a technical committee. It had endorsed our view that the State is suitable for oil palm cultivation,” he said.