Date:02/01/2008 URL: http://www.thehindubusinessline.com/2008/01/02/stories/2008010250111300.htm

Back Crude prices help Oil Palm India to post record net

Aravindan

Kottayam, Jan. 1 Oil Palm India Ltd ( OPIL) a joint venture of the Kerala Government and the Union Government, made an all-time high in its profit in the fiscal 2006-2007, said Adv V.B. Binu, Chairman, and Mr Mathew Jacob, Managing Director.

As against Rs. 13 crore revenue earned during 2005-06, the company enhanced the total revenue to Rs 14.5 crore during 2006-07. Profit during 2006 -07 was Rs. 30.32 crore. It was possible mainly because of the spurt in oil prices.

OPIL has at present oil palm cultivation in 3,646 hectares in different plantations in Kollam District. Another project to expand the cultivation in 1,000 hectares in Malabar area is under the consideration of the Government.

Kernel oil unit

The company has also decided to give Rs 75 lakh to the Union Government and Rs 1.02 crore to the State Government towards part of the profit during the year 2006-2007.The company could also make considerable achievement during 2006-07 for the processing of oil palm fruit and crude palm oil.

Steps are also in progress to set up a plant to produce kernel oil from oil palm seeds. The foundation for the plant would be laid in February 2008, said Adv. K.B. Binu.