KUALA LUMPUR, July 28 (Bernama) -- Plantation owners and smallholders areadvised to proceed with their replanting plans and exporters to sell theirstocks as much as possible in order to keep palm oil price steady at thecurrent level of RM1,000 per tonne.
"I'm worried about two possibilities, that the 4,300 applicants who haveregistered for replanting incentives may decide abort their plans, and theexporters hold on to their stocks (in the hope of fetching a higherprice)," said Primary Industries Minister Datuk Seri Dr Lim Keng Yaik at anews conference after delivering a keynote address at a seminar on "TheProspect And Outlook For The Palm Oil in Malaysia", here Saturday.
He hoped that that plantation owners and smallholders would do right thingby staying committed on their replanting programmes, and the exportersselling forward their stocks as much as possible.
Lim said that the 4,300 applications received as at July 10 this yearinvolved replantation of some 150,000 hectares or 75 percent of thetargeted hectarage.
Under the scheme, smallholders and estate owners who carry out theirreplanting programmes before the end of this year would receive anincentive of RM1,000 per hectare.
As for the exporters, especially those that are also producers, Limadvised them to sell as much as they can and as far forward as possiblebecause the price of over RM1,100 per tonne now was considered good. --BERNAMA