Govt hailed for release of Rs 65 cr to benefit oil palm famers

Eluru: 3F Oil Palm Agrotech Pvt Ltd, a leading player in the oil palm sourcing business, has expressed its happiness over the State government releasing Rs 65 crore towards payment of the additional one per cent oil extraction rate (OER) to oil palm farmers.

Commenting on the release of funds, Srinivas Rao Kilari, Head-Agri, 3F Oil Palm Agrotech Pvt Ltd said, “Release of funds will benefit hundreds of oil palm farmers across West Godavari district and will encourage more and more farmers to get into cultivation of oil palm, which guarantees a stable income for over 25 years.”

Funds were released under the ‘Promotion of Horticulture Activities’ and will be adjusted to the PD Account of the Commissioner of Horticulture. 
The Government Order has further directed the Commissioner of Horticulture, AP, at Guntur to take the necessary further action and enable the disbursement process to the oil palm farmers across the district, he added.