Malaysia set to export more palm oil this year

THE country is expected to export more palm oil this year based on the results of the first four months of the year, said Plantation Industries and Commodities Ministry parliamentary secretary Ng Lip Yong. 

He said the country produced 13 million tonnes of palm oil last year and exported 12 million.  

“We can expect to increase the export of palm oil by about 10%,” he said, adding that revenue from the export of the oil was about RM20bil last year,'' he told a press conference at the Gerakan headquarters in Cheras yesterday. 

Ng said oil palm would remain the country’s “golden crop” despite land shortages and higher labour costs. 

“We may not have an advantage over certain countries like Indonesia, Papua New Guinea, or Thailand in terms of acreage or labour costs but we can boost productivity because we are still ahead in terms of research and development and knowhow,” he said. 

Ng said the Malaysian Palm Oil Board had commercialised 209 items from oil palm since 2000. 

He also said Golden Hope Plantation Bhd had recently introduced an oil palm clone which had the potential of producing twice as much oil per acre compared with conventional palm oil. 

He said the Government hoped to achieve an oil extraction rate of 25% per ha, or 35 tonnes per ha, compared with the current 20%, or 19 tonnes per ha. 

Ng also said oil palm remained the most productive of all crops as a source of edible oil.  

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