Lanka to expand palm oil cultivation
Plantation Industries Minister Mahinda Samarasinghe with
Indonesian Agricultural Minister in Jakarta, Indonesia.
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Indonesia has agreed to help Sri Lanka in expanding palm oil
cultivation in the country. An agreement has been inked to this effect
during recent discussions held by Plantation Industries Minister Mahinda
Samarasinghe with the Indonesian officials.
As a result Indonesian officials have agreed to provide expert
knowledge and new palm varieties with higher yields to Sri Lanka.
According to an agreement between the two countries Indonesia is set to
provide 22 palm varieties and 200.000 seeds to produce saplings.
They have also agreed to train agricultural field officers and
provide necessary technical knowledge to expand cultivation.
At present Sri Lanka imports 160,000 metric tons of palm oil annually
at the cost of Rs 14 billion. Sri Lanka’s palm oil production at present
is 17,000 metric tons annually.
As palm oil usage is on the increase the Government expects to save
the foreign exchange through spread of palm oil, according to the
Ministry.
With Indonesian help the Minister expects to increase oil palm
production in the country in excess of 100,000 metric tons annually in
the near future.
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