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Punjab to launch olive cultivation

Chandigarh: The Punjab Government is all set to launch olive cultivation over 300 hectares under a pilot project to ensure better remunerative returns to the farmers and towards a push for diversification of agriculture.

Reviewing the prospects of the olive plantation in a meeting here, Chief Minister Parkash Singh Badal on Tuesday explored all the possibilities of olive plantation in the State in a big way.

Punjab Agro - the nodal agency for this project had already held negotiations with Indolive Enterprises Limited, Israel to study the prospects of olive plantation in the state.

Indolive along with a private Indian company had already entered into an agreement with Rajasthan Government for Olive Cultivation Project.

The meeting was informed as per the preliminary information collected by Indolive had concluded that olive cultivation was definitely feasible and had a great economic viability in Punjab, an official spokesman said here.

The Chief Minister asked the Punjab Agro to encourage the Punjab farmers to adopt olive cultivation as the climatic conditions in the State were suitable for moderate to high yield olive cultivation which would result in three-fold increase in their income as compared to paddy-wheat rotation.

Presently, the olive oil prices are USD 3.6 per kg. With the given price the income would be approximately over Rs.3 lakh per hectare from 6th year onwards as the fruiting starts from 3rd year and average oil yield would be 600 kg, 1200 kg, 1600 kg and 2000 kg per hectare in the 3rd, 4th, 5th and 6th year respectively.

Managing Director Punjab Agro S.K. Sandhu said that the olive cultivation would be in Public Private Participation (PPP) mode in a transparent manner by inviting expression of interests globally and nationally. -- PTI

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