Oil palm tree growing in 1 lakh hectares: AP minister

Eluru, Andhra Pradesh, Nov 11 (UNI) Andhra Pradesh Government has chalked out a comprehensive plan to cultivate oil palm trees in one lakh hectares, in coming two years, Agriculture Minister Raghuveera Reddy said.

The government would encourage farmers to grow oil palm trees in one-lakh hectares through subsidies, the minister said in a public meeting here last evening.

Stating that the government would set up allied industries to encourage palmoil cultivation he said as part of the mechanisation programme of agriculture, the government would distribute farm equipments on 50 per cent subsidy.

The government is taking steps to sanction crop loans on 0.25 paise interest rate, he added.

UNI XR JJ 1208