Planters target existing oil palm plantations

Industry expert M.R. Chandran(inset filepic) said the current preference for brownfields among big plantation companies are mostly due to major changes in the global oil palm sustainability requirement scene.

PETALING JAYA: There is increasing appetite for local plantation companies to acquire existing oil palm plantations to expand their hectarages.

Since late last year, local planters with deep pockets have been snapping up more brownfield oil palm plantations in Malaysia instead of greenfields as part of their landbank expansion and value creation.