Ad hoc ban on oil palm deters forex saving – Agri experts
The country can save more than US$1000 for 200,000 metric tonnes of palm oil imported and become self-sufficient in vegetable oil, agricultural experts say.
Plantation sector expert emeritus Prof. Asoka Nugawela told the gathering at the Sustainable Horizons, a workshop to revive the current policy on oil palm cultivation held on Tuesday, that oil palm is the most efficient oil-producing crop with a global land extent at 8.3 per cent and production at 42.3 per cent.
“It is the highest income generating plantation crop in Sri Lanka and the crop supports the economic stability of the plantation industry.”
In 2017, $156 million worth of palm oil imports came into the country and the following year it was $137 million. Prof. Nugawela estimated that by 2030 the imports will cost $268 million. This was estimated using the average imported quantity during 2017 and 2018 and the global average growth rate in usage at 2.4 per cent.
Noting that growing oil palm is a solution to low worker wages, he said that it is also an economically viable crop for smallholders. “It’s useful in poverty alleviation programmes in countries like Malaysia and Indonesia which have been very successful in this effort.” He added that the negative impacts on the environment if any, are management but not crop-related.
“The facts considered ban oil palm cultivation in April 2021 are not scientific and we see a low interest to implement recommendations favourable to this industry.” He said that due to the ban more than Rs. 500 million worth of plants raised after obtaining all relevant government approvals have now become worthless in
nurseries.
Further pointing out that policy changes based on unscientific, and buyers’ information need to be revisited by the authorities, Prof. Nugawela said that the oil palm industry has the potential to eradicate poverty and strengthen the plantation economy and the economy of the country at large.
Hitad.lk has you covered with quality used or brand new cars for sale that are budget friendly yet reliable! Now is the time to sell your old ride for something more attractive to today's modern automotive market demands. Browse through our selection of affordable options now on Hitad.lk before deciding on what will work best for you!