KOTA KINABALU: Malaysia’s palm oil exports are expected to reach RM65.2 billion this year from RM49.5 billion in 2009.
POSITIVE GROWTH: Dompok (right) launching the book on palm oil transfer technology by MPOB. Also present are Sabah Industry Development Minister Datuk Raymond Tan and MPOB director-general Datuk Dr Mohd Basri Wahid (left).— Bernama photo
Plantation Industries and Commodities Minister Tan Sri Bernard Dompok said the forecast was based on the growth in output and export volumes.
In the first nine months, palm oil production rose two per cent to 11.10 million tonnes while exports increased nearly 6 per cent to 10.94 million tonnes compared with the corresponding period last year, he said.
He said the industry’s encouraging advancement put palm oil as among sectors listed under the National Key Economic Areas (NKEA) which could transform the country into a high income nation.
“The palm oil industry’s rapid advancement has contributed towards the country’s economic development and prosperity through growth in output and exports, supported by competitive market prices,” he said when opening a seminar on technology transfer organised by the Malaysian Palm Oil Board (MPOB) here yesterday.
Dompok said new technologies, developed through research and development, also contributed to the advancement of palm oil industry.
Industry players, including smallholders, should make use of these new technologies to raise productivity, he added.
He also said the government had allocated RM50 million through MPOB to encourage smallholders’ involvement in sustainable palm oil production.
Smallholders should also join MPOB-registered cooperatives, he added. — Bernama