Tag Archives: palm oil

Malaysian palm oil firm planning to invest $1 billion in Agusan del Sur

BusinessWorld Online
November 22, 2016

A MALAYSIAN COMPANY is planning to invest an initial amount of $1 billion to build plants to process palm oil in Agusan del Sur, according to an official from the Philippine Economic Zone Authority (PEZA).

PEZA Director-General Charito B. Plaza said Alif Agro-Industrial, Inc. is looking for 128,000 hectares in Agusan del Sur which would be used as agricultural economic zones.

“$1 billion ang initial nila kasi (is their initial investment because) they’ll put up refinery plants to process the palm oil,” she told reporters on the sidelines of a Nov. 17 event.

Ms. Plaza said the land will be in ancestral domain areas, which is “good” for indigenous people who have been fighting for their rights.

“What we are doing now to accommodate the 128,000 hectares is we talked to the Department of Trade and Industry, and the local government and the National Commission on Indigenous Peoples. We are talking with the clans of these owners of these ancestral domains. They already signed a contract or a memorandum of understanding that these will be converted to special eco zones for the palm oil industry.”

Ms. Plaza noted the Philippines is currently importing around five million tons of cooking oil.

She said that they are currently studying the country’s imports with an emphasis on looking for possible crops that could be planted in the economic zones. This would contribute to minimizing the country’s overseas purchase of goods while boosting its export capacity.

Ms. Plaza, who took over the post after former PEZA Director-General Lilia B. De Lima retired earlier this year, is a former representative of Butuan.

PEZA is preparing to introduce changes in the way the government seeks investments, as it explores opening up economic zones for other sectors such as that of national defense.

Moreover, Ms. Plaza said PEZA is making a pivot towards attracting Middle Eastern investors that represent a lot of untapped potential.

This new focus, she said, is because PEZA has previously been occupied with seeking investments from Western and non-Muslim states, when in fact, the Middle East is “where the money is.” — Roy Stephen C. Canivel

Mindanao exports up 15% in 2013

BusinessWorld Online
June 10, 2014

DAVAO CITY — Mindanao registered $7.6 billion in export receipts last year, 15% more than in 2012, despite the natural calamities that have hit the island in the last two years.
Luwalhati R. Antonino, chairperson of the Mindanao Development Authority, said in a statement on Friday that Mindanao’s export performance was “bullish”. This, considering that production had been greatly affected by typhoons Pablo (international name: Bopha) in December 2012 and tropical storm Sendong (Washi) the year before.

The country’s total exports in 2013 were placed at roughly $54 billion, based on data from the Department of Trade and Industry’s Web site.

“We anticipated a downtrend in some of the region’s agricultural produce, particularly banana and coconut, because of the typhoon, but on the contrary, banana remained our top dollar earner in 2013,” Ms. Antonino said, citing $911 million in exports last year, 45% more than what was shipped out the previous year.

Agriculture Secretary Proceso J. Alcala, two months ago, said that the banana industry in Compostela Valley has recovered from the impact of the typhoon as the government, through the Land Bank of the Philippines, provided interventions so small growers could rehabilitate their farms.

However, Ms. Antonino said coconut and palm oil exports last year suffered the impact of the typhoon. Coconut exports during the year went down by 13% to $773.8 million as Davao Oriental bore the brunt of the typhoon. The industry contributed 14.9% of the island’s total exports last year.

Gov. Corazon N. Malanyaon said the province has started rehabilitating its coconut farms, although farmers and owners have been provided with options of growing other crops like rubber, cacao and even oil palm. — Carmelito Q. Francisco