India’s KS Oils to Buy Palm Plantations

India's leading rapeseed oil manufacturer, KS Oils Ltd, plans to buy palm plantations in Indonesia and Malaysia to meet growing edible oil demand in India, its managing director said Thursday (6/9/07).

"We have chalked out a plan to buy around 8,000 to 12,000 hectares of palm plantations in both these countries and have already finalized a deal in Malaysia," Sanjay Agarwal told Dow Jones Newswires.

The company has earmarked $36.7 million to purchase palm plantations in the two countries.

Earlier, another large Indian edible oil manufacturer, Ruchi Soya Industries Ltd said it is also looking to purchase palm plantations in Indonesia and Malaysia.
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