10/07/2012 (Sun.Star) - A Private company urged the Provincial Government of Davao del Norte to support the plan of putting up a 5,000-hectare oil palm plantation.

In a phone interview on Sunday, Dr. Anacleto Pedrosa, chief operating officer of Banapalma Corporation, said it's up to the Provincial Government when to start planting the oil palm trees.

"Wala pa nag-decide kay nangita pa og pondo (The Provincial Government has not yet decided since it's still looking for funds)," Pedrosa said.

The executive said the Provincial Government is still consolidating the areas where the plantation of oil palm trees can take place.

Davao del Norte needs P180,000 a hectare to sustain an oil palm plantation in which the Land Bank of the Philippines has committed to fund P144,000 and the remaining P36,000 will be taken from the equity of the farmers.

A farmer can grow at least 128 seedlings for every hectare.

A total of 70 percent of the total cooking oil consumption of the country is exported while 30 percent is locally produced.

If the proposed project will be realized, the cooking oil to be produced out of the plantation will be enough to meet the total requirement of the country.

It can be recalled that Ermie Dilodilo, assistant manager of the Federation of Cooperatives (Fedco), said apart from its main product palm oil, the growers can earn also earn from its by-products such as the seeds, an essential ingredient for foods and cosmetics which can be sold at expensive prices.

Dilodilo said each seedling will cost P250. If Fedco will be able to set up its own nurseries for seedlings, then the price will be reduced by 50 percent.

Pedco said Davao del Norte has 60,000 to 80,000 hectares of land for agriculture, which is way bigger compared to the 5,000-hectare land requirement for the oil palm plantation.