MARKET DEVELOPMENT
Masing: CPO Production Up By 7.7 per Cent This Year
Masing: CPO Production Up By 7.7 per Cent This Year
16/12/2015 (Borneo Post) - The total production of crude palm oil (CPO) for the period of January to October this year increased by about 0.2 million tonnes or 7.7 per cent to 3.08 million tonnes from the 2.9 million tonnes recorded during the corresponding period last year.
Land Development Minister Tan Sri Dr James Masing, in his winding-up at the State Legislative Assembly (DUN) yesterday, also told the august house that Sarawak was the second largest producer of CPO in the country after Sabah.
“Nevertheless, this production volume accounted for only 18.2 per cent of the total CPO produced nationwide,” he pointed out.
He continued that for the first 10 months of this year, the export volume of Sarawak oil palm products was 3.3 million tonnes similar to the volume for the same period last year.
However, he added, the total export revenue of RM6.6 billion generated showed a decrease by about RM0.9 billion or 12 per cent from the RM7.5 billion recorded during the same period last year due to lower prices.
According to him, People’s Republic of China, India, the European Union, New Zealand, Vietnam and South Africa were the biggest export markets for Sarawak’s oil palm products for the period.
Masing, who is Baleh assemblyman, said during the same period the state exported close to one million tonnes or 29.9 per cent of her oil palm products to the People’s Republic of China, about 871,000 tonnes or 26.4 per cent to India, and about 415,000 tonnes or 12.6 per cent to the European Union.
On NCR land development under the joint-venture model, he asserted that up to September this year a total of 79,565 hectares of NCR land had been developed by 41 joint venture companies (JVC).
“They are allocated in 54 locations throughout the state, with a total of 13,952 participants. In terms of the monetary benefits to the landowners, a cumulative amount of RM179 million in the form of dividend, incentive and upfront payments have been paid,” he remarked.
Masing was the last minister to deliver his winding-up speech yesterday.
He finished at 6pm following which the session was adjourned and will resume for the final day at 9am today.
Land Development Minister Tan Sri Dr James Masing, in his winding-up at the State Legislative Assembly (DUN) yesterday, also told the august house that Sarawak was the second largest producer of CPO in the country after Sabah.
“Nevertheless, this production volume accounted for only 18.2 per cent of the total CPO produced nationwide,” he pointed out.
He continued that for the first 10 months of this year, the export volume of Sarawak oil palm products was 3.3 million tonnes similar to the volume for the same period last year.
However, he added, the total export revenue of RM6.6 billion generated showed a decrease by about RM0.9 billion or 12 per cent from the RM7.5 billion recorded during the same period last year due to lower prices.
According to him, People’s Republic of China, India, the European Union, New Zealand, Vietnam and South Africa were the biggest export markets for Sarawak’s oil palm products for the period.
Masing, who is Baleh assemblyman, said during the same period the state exported close to one million tonnes or 29.9 per cent of her oil palm products to the People’s Republic of China, about 871,000 tonnes or 26.4 per cent to India, and about 415,000 tonnes or 12.6 per cent to the European Union.
On NCR land development under the joint-venture model, he asserted that up to September this year a total of 79,565 hectares of NCR land had been developed by 41 joint venture companies (JVC).
“They are allocated in 54 locations throughout the state, with a total of 13,952 participants. In terms of the monetary benefits to the landowners, a cumulative amount of RM179 million in the form of dividend, incentive and upfront payments have been paid,” he remarked.
Masing was the last minister to deliver his winding-up speech yesterday.
He finished at 6pm following which the session was adjourned and will resume for the final day at 9am today.