Financial Daily from THE HINDU group of publications
Wednesday, Dec 14, 2005
Financial Daily from THE HINDU group of publications Wednesday, Dec 14, 2005 |
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Agri-Biz & Commodities
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Oilseeds & Edible Oil Call to increase palm oil cultivation Our Bureau
Kolkata , Dec. 13 IT will be possible for India to scale down import of edible oils if the country mounts an initiative to increase palm oil production, Mr Mohamed Abd Majed, Deputy CEO, Malaysian Palm Oil Promotion Council, has said There is a case for addressing a number of critical issues affecting the prospects of cultivation, fine-tuning land ownership regulations being one of them. Palm oil cultivation will be far more effective on larger tracts of land, say, a minimum 10,000 hectares. Improving palm oil production profile will enable India to bolster its aggregate production of edible oils. Investments from Malaysia would be a possibility in this sector if India introduced a new land ownership regime, Mr Majed indicated, adding that joint ventures too may not be ruled out. As things stand, a Malaysian company, and the only one so far, has put in roughly Rs 25 crore in the palm plantation sector.
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