Felda settlers earn up to RM20,000 monthly as oil palm prices surge
20/11/2024 (New Straits Times), Jerantut - Felda settlers are reaping a windfall, earning up to RM20,000 a month thanks to the surge in oil palm prices.
What is more encouraging for these small holders is that many of them say they are able to harvest more oil palm fruit now compared to a few months ago.
Kosmo today reported that the price for fresh fruit bunches (FFB) from January to October this year ranged from RM800 to RM900 per metric ton, before skyrocketing to RM1,200 recently.
The surge in oil palm fruit prices has provided some relief for settlers allowing them to save money and pay off their various overdue debts.
Felda Kota Gelanggi 1 settler, Johari A. Manaf, 81, said he is grateful because the estate he operates has shown vast improvement, as he is now able to harvest about 20 to 25 tons per month.
Based on current prices and his 5-hectare (14-acre) palm oil plantation, the report said he is now able to earn between RM20,000 to RM30,000 a month.
"Thank God, the price of oil palm has risen significantly, and we can now enjoy a better income," he said, as quoted by Kosmo."
Meanwhile, the Felda Kota Gelanggi 1 settlers head, Abd Rahman Ghani said that the average yield of oil palm for each settler is between 10 tons to 15 tons per month, with an income of around RM10,000 depending on the size of their land.
He said that the price of oil palm is also showing an upward trend over time and may even reach RM1,300 per ton, as seen in previous years.
However, he expressed his concern about the increasing number of oil palm thefts, which has caused anxiety among settlers.
"Currently, a bunch of oil palm fruit can fetch up to RM30, and although this provides a substantial income, I hope settlers will not be wasteful and will practice frugality by saving the money they earn during this harvest," he said.
He also took this opportunity to praise some settlers for using their earnings for meaningful purposes, such as performing umrah, instead of splurging on new cars or other luxuries.
"Most of the settlers are aged 60 to 70 years old, with some reaching 80, and they live with their spouses as their children have already moved elsewhere. Therefore, they don't need to buy new cars or live a flashy lifestyle," he said.
Meanwhile, the Felda Wilayah Jengka Social Bureau Chairman, Razak Daud said even though settlers are earning a lot at the moment, they must be frugal, as oil palm prices will eventually decline again, as they have before.
He urged settlers to settle all their debts and save money for future needs.
"Settlers need to regularly monitor their plantations to prevent thefts and should immediately report any suspicious activity to the police," he said.