The Malaysian Palm Oil Board (MPOB) has targeted to raise the production of Palm Oil to six tonnes per hectare by increasing productivity through up-to-date technology integration, a top industry official said.
MPOB was actively stepping up Palm Oil research and development activities through selective genome seed-breeding and tissue culture technology, the official said.
MPOB targeted to increase the production of Palm Oil to six tonnes per hectare based on the fact that some areas had the potential to produce a total harvest of 18.2 tonnes per hectare, he added.
The MPOB expects a bright prospect for Palm Oil next year following high global demand, especially from China in conjunction with the Chinese New Year celebration in the first quarter of 2018, he said, adding that, “Increasing demand indirectly helps increase the price of Palm Oil.”
The value of Palm Oil and Palm Oil-based product exports is expected to increase to RM70 billion this year from RM67.6 billion last year, the official said.
The total oil palm production target of 19.6 million tonnes for the January-December 2017 period could be achieved despite the industry’s volatility due to weather inclement and market sentiment, the official said.
Cargo surveyor Intertek Testing Services in its research said exports of Malaysian Palm Oil products for the Nov 1-10, 2017 period decreased 2.5% to 436,988 tonnes from 448,349 tonnes in the same period in October.