Malaysia eyes oil palm

Malaysia eyes oil palm

KUALA LUMPUR (Reuters): Malaysian companies should establish
offshore joint ventures in oil palm plantations to take advantage
of expected increases in the world's demand for oils and fats,
Primary Industries Minister Lim Keng Yaik said yesterday.

He said with Malaysia facing severe land and labor
constraints, "the only alternative for us therefore is to look
beyond Malaysia's shores."

"If we really want to continue enjoying some share of the
expected increases in demand for oils and fat, we must look
elsewhere to plant oil palm," Lim said at a palm oil seminar in
Kuala Lumpur.

He said following Indonesia's decision to suspend new joint
ventures of oil plantations involving foreigners, Malaysian firms
should look for opportunities in West Africa and Latin America.