Because of it’s very promising economic returns, an executive of the Philippine Palm Oil Council Inc., (PPOCI) has encouraged the government to prioritize palm oil production in the country.
The country has close to a million hectares of farm lands ideal to grow palm trees, said PPOCI board of director Pablito B. Pamplona during a forum last week.
“At present however, only 170,000 hectares are only utilized for palm tree plantation despite its huge economic importance to us,” he said.
Pamplona said palm produce four times higher oil than that of coconut, and it is easy to grow and can be planted basically anywhere.
He encouraged the government to add palm oil to the agriculture products the government is focusing on like rice, corn, and coconut.
“Based on figures, the Philippines was importing P25 billion worth of palm oil products two years ago. In the next 10 years, the demand is expected to double with the population also estimated to reach 120 million,” he said.
At present, there are only 10 palm oil milling plants in the Philippines, which are not enough to cater to the increasing demand in the country.