Economy
Manila-The Philippine Palm Oil Development Council, Incorporated (PPDCI) has highlighted the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) as a key area for the expansion of the country’s palm oil production. During the 13th Palm Oil Congress held on Thursday, PPDCI President Erwin Anthony Garcia emphasized the region’s suitability for oil palm cultivation, noting that around 800,000 hectares have been identified for potential development.
According to Philippines News agency, the Philippines’ dependence on palm oil imports, particularly from Indonesia and Malaysia, underlines the necessity for enhanced local production capabilities. With the country importing 1.2 million metric tons of palm oil last year, the establishment of additional plantations in BARMM could significantly reduce reliance on external sources. The PPDCI’s planting target for the year aims to address the aging oil palm tree issue and bolster national production. Mindanao Development Authority Secretary Leo Tereso Magno expressed support for the industry, promising government assistance to foster growth and potentially transform the Philippines into a significant player in the global palm oil market.