Malaysia to assist in palm oil plantations in coastal Sindh and Balochistan provinces of Pakistan
In a move towards boosting the palm oil production in Pakistan, the country is negotiating with the Federal Land Development Authority of Malaysia to seek assistance for a large-scale palm oil plantation in coastal areas of Sindh and Balochistan.
Currently, Pakistan spends millions of dollars on importing edible oil imports every year.
As much as 8,000 acres of land in Sindh and about an equivalent in Balochistan is planned to be brought under palm oil cultivation. The Pakistan Oilseed Development Board (PODB) is already working on importing the seedlings for the same.
Ministry of National Food Security and Research confirms that the coastal belt of Sindh and Balochistan are suitable areas for palm oil cultivation, given the favorable climate, water scarcity and extreme heat.
With the area least affected by monsoons and a low annual rainfall of about 25-50mm, the plantation business can benefit people living along the coast from Karachi to Gawadar.
In the past, there were many palm oil development projects in Pakistan. For instance, the Palm Oil Development Pilot Project launched by Pakistan Oilseed Development Board (PODB) in coastal areas of Sindh and Balochistan, the Palm Oil Development Project worth Rs.113.08 million on 12,000 acres plus a project on palm oil cultivation by government of Balochistan worth Rs.326.371 million.
To encourage cultivation, palm oil seedlings were provided at subsidized rates to growers and a loan of Rs 5,000 per acre to growers having palm oil plantation on their field was offered by Zarai Taraqiati Bank Limited (ZTBL).
CMT's 6th Palm Oil Asia Summit is coming to Jakarta on 13-14 August, 2014 to discuss more on the palm oil industry prospects in Asia.
View the 6th Palm Oil Asia Summit website for more details or contact Ms. Hafizah at email@example.com or call +65 6346 9218.