PALM NEWS MALAYSIAN PALM OIL BOARD Saturday, 30 Nov 2024

Total Views: 208
MARKET DEVELOPMENT
Oil palm growers urged to expand production areas
calendar29-08-2005 | linkSun Star | Share This Post:

26/08/2005 Philippines (Sun Star) - THE Department of Agriculture (DA) isurging oil palm growers in Mindanao to expand their production areas inorder to complement the increase in local demand, which is pegged at 2.18percent annually.

Based on data obtained from DA, there is a shortfall of about 40,000metric tons in the local market at present.

If there will be no expansion moves that will be made starting this year,the DA said, the country's importation of palm oil, which is the processedproduct of oil palm, will jump to as high as 220,000 metric tons by 2010from 98,026 mteric tons last year.

More than 90 percent of the total oil palm plantation in the country is inMindanao. Of the 25,226.95 hectares of land planted to oil palm in 2004,21,232.80 hectares was in the island.

Palm oil products are widely used in industries such as the UniversalRobina Corporation (URC), Nestle Philippines, Mina Oil Mill Corporation,and a lot more.

The Land Bank of the Philippines (Landbank) is offering a creditassistance of P60,000 per hectare.

With this opportunity, Agriculture Secretary Domingo Panganiban saidMindanaoans should accept the challenge since "the window of opportunityis here."