MALAYSIA'S PALM OIL EXPORTS TO HIT US$20.98 BLN THIS YEAR

KOTA KINABALU, Oct 11 (Bernama) -- Malaysia's palm oil exports are expected
to reach RM65.2 billion (US$20.98 billion) this year from RM49.5 billion
(US$15.94 billion) in 2009.

Plantation Industries and Commodities Minister Bernard Dompok said
the forecast was based on the growth in output and export volumes.

In the first eight months, palm oil production rose 0.9 per cent to 9.5
million tonnes while exports 0.55 million tonnes or 4.3 per cent to 13.38
million tonnes compared with the corresponding period last year, he said.

He said the industry's encouraging advancement put palm oil as among sectors
listed under the National Key Economic Areas (NKEA) which could transform the
country into a high income nation.

"The palm oil industry's rapid advancement has contributed towards the
country's economic development and prosperity through growth in output and
exports, supported by competitive market prices," he said when opening a seminar
on technology transfer organised by the Malaysian Palm Oil Board (MPOB) here
Monday.

Dompok said new technologies, developed through research and development,
also contributed to the advancement of palm oil industry.

Industry players, including smallholders, should make use of these new
technologies to raise productivity, he added.

He also said the government had allocated RM50 million (US$16.1 million)
through MPOB to encourage smallholders' involvement in sustainable palm oil
production.

Smallholders should also join MPOB-registered cooperatives, he added.
(US$1=RM3.1)

-- BERNAMA