Patanjali Group To Plant Palm Trees In More Than 15 Lakh Acres Of Land
New Delhi, 16th September 2022: Yoga guru Ramdev has announced the IPO of 4 companies of Patanjali Group. He also informed about his plans regarding the already listed company Patanjali Foods Limited.
To become self-reliant in the matter of palm oil, the Patanjali group has announced plans to plant palm trees on more than 15 lakh acres of land. These trees will be planted in 55 districts of 11 states. Patanjali claims that this will be India’s largest palm cultivation by any company.
With this, a target has been set to earn an annual return of about Rs 2 thousand crores in 5 to 7 years. Once the palm trees are planted, there will be an ample amount of income for the next 40 years.
In a statement issued by the company, it said that this will enable the country to become self-sufficient in the matter of edible oil and will also save foreign exchange due to imports.
Patanjali estimates that foreign exchange of up to Rs 3 lakh crore will be saved.
This will also give a boost to the rupee against the dollar.
There are two big companies of edible oil in the retail market – Gautam Adani’s Adani Wilmar and Ramdev’s Patanjali Foods Limited. Adani Wilmar is the biggest rival of this company of Patanjali Group.
