Ruchi Soya Inks Deal with Netherlands’ Solidaridad to Scale up Sustainable Palm oil Production

By 121 News

Chandigarh 08^th June:- Ruchi Soya Industries Limited (Ruchi Soya), inked a deal with Solidaridad. Valued at Euros 4.5 Million, the deal was signed in the presence of the Hon'ble Prime Minister of the Netherlands, Mark Rutte. Ruchi Soya will share 55% of this investment and Solidaridad the remaining 45%. The project will work on the principle of 'Make in India' and 'More Crops per Drop'. Ruchi Soya and Solidaridad India would be working with the Indian palm oil farmers training them on sustainable practices to grow more palm oil with less land, water and energy whilst protecting the ecology. Solidaridad would bring in its expertise in sustainable palm oil production from across the world and use state of the art technologies to augment water efficiency and sustainable expansion of palm production in India.

Mark Rutte, Prime Minister of the Netherlands who was present at the signing of the MoU said that the Netherlands is the second largest exporter worldwide of agricultural produce. Therefore, I welcome the partnership between Solidaridad and Ruchi Soya in the sustainable production and trade of agro-commodities. 

Dinesh Shahra, Founder and Managing Director, Ruchi Soya Industries Limited said that the partnership aims at increasing the productivity and income of Indian farmers in a sustainable way. Our endeavor is to ensure that the Indian farmers get the best quality of inputs and state of the art technology that can help them scaling their productivity to global standards. India consumes 19.65 million MT of edible oil, of which 13.5 million MT is imported and Palm constitutes 8.8 million MT of the total import. Government of India has identified 2 million hectares of land for oil palm cultivation in India. Ruchi Soya has done pioneering efforts in the oil palm cultivation in India and our partnership with Solidaridad will help India in saving the valuable foreign exchange.

Dr. Shatadru Chattopadhayay – Managing Director, Solidaridad Network Asia Limited mentioned that the Palm oil farmers in India have a bright future as providers of food and suppliers of renewable energy and raw materials. Palm oil is an extremely efficient oil to produce. It's cost effective, produces high yields on little land, consumes relatively little energy, and can generate almost 10 times the amount of energy consumed in its production. I believe this partnership would create a concrete example of how sustainable, commercially viable Public-Private Partnership can enhance the potential of Indian smallholder farmers and workers in rural areas with fewer negative consequences for people and the environment.