MARKET DEVELOPMENT
Brighter Prospects for Palm Oil Industry in 2015
Brighter Prospects for Palm Oil Industry in 2015
30/12/2014 (Sun.Star) - The prospects are brighter for the palm oil industry in Mindanao next year, bolstered by strong market demand and the suitable climate of the island, an industry player said.
"Very bright ang prospects [for the palm oil industry in Mindanao] because nga in 2012 and 2013 we imported P35 billion worth of [oil] so if kitaang mag tanomanamakabarato ta (because in 2012 and 2013 we imported P35 billion worth of oil so if we are the ones to plant it, it would be cheaper for us," said former Davao City councilor Peter Laviña, member of the Philippine Palm Oil Development Council (PPODC).
"There are many foreign investors who are looking at Mindanao because we have a good rainfall, climatic conditions, and sufficient labor," he added.
He said the Manny V. Pangilinan (MVP) Group and their Indonesian partners are looking into investing in palm oil in Davao Oriental.
Laviña also said there is a Malaysian investor who is eyeing palm oil plantations in Paquibato, a Papua New Guinea and British group who is eyeing Agusandel Sur, and a company from Thailand is also looking into Marilog and Bukidnon.
He said Malaysians and Indonesians who are helping in the peace process are also interested to invest in the Autonomous Region of Muslim Mindanao (Armm), like parts of Lanaodel Sur, Maguindanao, and Basilan.
Laviña said the Moro Islamic Liberation Front even experimented in planting almost 200 hectares of oil palm.
However, he pointed out the industry still faces a number of challenges like dealing with landowners, the need for quality seedlings, and the need for more milling plants.
"Very bright ang prospects [for the palm oil industry in Mindanao] because nga in 2012 and 2013 we imported P35 billion worth of [oil] so if kitaang mag tanomanamakabarato ta (because in 2012 and 2013 we imported P35 billion worth of oil so if we are the ones to plant it, it would be cheaper for us," said former Davao City councilor Peter Laviña, member of the Philippine Palm Oil Development Council (PPODC).
"There are many foreign investors who are looking at Mindanao because we have a good rainfall, climatic conditions, and sufficient labor," he added.
He said the Manny V. Pangilinan (MVP) Group and their Indonesian partners are looking into investing in palm oil in Davao Oriental.
Laviña also said there is a Malaysian investor who is eyeing palm oil plantations in Paquibato, a Papua New Guinea and British group who is eyeing Agusandel Sur, and a company from Thailand is also looking into Marilog and Bukidnon.
He said Malaysians and Indonesians who are helping in the peace process are also interested to invest in the Autonomous Region of Muslim Mindanao (Armm), like parts of Lanaodel Sur, Maguindanao, and Basilan.
Laviña said the Moro Islamic Liberation Front even experimented in planting almost 200 hectares of oil palm.
However, he pointed out the industry still faces a number of challenges like dealing with landowners, the need for quality seedlings, and the need for more milling plants.