Palm Oil Price Is Expected To Sustain
PUTRAJAYA, Oct 31 (Bernama) -- Palm oil, which is enjoying good price, isexpected to strengthen further in the future months based on the demandfrom the major markets, said Primary Industries Minister Datuk Seri Dr LimKeng Yaik here Thursday."Major markets like India, is expected to increase its imports to caterthe Deepavali celebration, apart from its decreasing vegetable oilproduction due to the dry season in the country," he said at the Oil PalmSmallholders 2002 national conference.The two-day conference organised by the Malaysian Palm Oil Board (MPOB),is themed "Strategy Towards Strengthening and Future of the Oil PalmSmallholders.""Apart from this, China needs to use the balance of its palm oil importquota for this year, and the fact that supply of fats and vegetable oilsare expected to decrease in the next few months," he said.Dr Lim said that the price of palm oil currently stood at RM1,520 pertonne which was much better than the RM700 per tonne recorded at onestage.He said that Malaysia always hoped for the best for the industry but theups and downs of price was normal in the trading of agriculturalcommodity."What is important is that the smallholders involved must optimise theirproduction and minimise production costs. To achieve high productivity,smallholders require knowledge, sufficient skils and inputs," he said.To help the smallholders enhance their productivity, he said that MPOB haslaunched a programme where 50 officers were appointed to give technicaladvice to the smallholders who are not getting such advice from othergovernment agencies. -- BERNAMA