The palm oil industry generates more jobs per hectare than other large scale farming operations, adding that an estimated six million people worldwide are employed by industry players.

05/06/2015 (Borneo Post) - Palm oil remains a crucial commodity in today’s growing markets on account ot its higher yields and variety of use, says industry player Dolphin International Bhd (Dolphin International).

On a macro level, the key reason for the dominance of palm oil is its inherent productivity compared to other form of oil seeds.

“On average, oil palm produces four tonnes per hectare of palm oil while other seeds yield less than 0.8 tonnes per hectare,” said group managing director Eric Low Teck Yin in an interview with The Borneo Post on Wednesday.

“This is why the palm oil industry remains an important economic driver to producing countries in Southeast Asia, Papua New Guinea, Central and Western Africa; it is also a major contributor to export earnings in Indonesia and Malaysia.”

Low said the industry generates more jobs per hectare than other large scale farming operations, adding that an estimated six million people worldwide are employed by the palm oil industry.

On this point, Dolphin International is committed to supporting the sector, its owners and employees be both productive and sustainable.

“Dolphin International is a nimble company with proven technologies, innovative capability and a track record of growth. We are well-placed to tap the potential growth demand from palm oil mill owners, in an industry that continues to thrive.

“We anticipate our sales growth in this financial year to be positive due to the innovative products and solutions offered by our group. The implementation of our expansion plans is also expected to contribute positively to our group.”

According to an Independent Market Research report, Malaysia and Indonesia fulfil approximately 90 per cent of the world’s demand for palm oil. The palm oil industry in both countries are on a growth trajectory, driven by continuous global demand for palm oil.

As a result, the palm oil industry in Malaysia and Indonesia are expanding its palm oil plantation and milling activities.

Low said these trends have a flow-over effect on the palm oil milling machineries sector.

“Innovation has been the cornerstone of Dolphin’s success so investment in R&D is a natural application of our initial public offering proceeds,” he added. The group is slated for listing on June 9 and    “The RM4 million from the IPO proceeds allocated to R & D will further enhance the Group’s  existing infrastructure, facilities and set-up to support ongoing  programmes.

“Our Group’s vision is to be leading player in the palm oil milling machineries sector. Therefore, moving forward, our plans and strategies will include continuous development of innovative products as a driver for future growth and profitability.