Philippines plans to reduce reliance on palm oil imports
The Philippines plans to invest up to ₱1 billion over five years to develop 300,000 hectares of oil palm plantations and reduce import dependence. The government is also seeking ₱300 million for 2027 and exploring palm oil as a biofuel feedstock.
The Philippine Department of Agriculture plans to secure up to ₱1 bln in funding over the next five years to develop domestic palm oil production and reduce reliance on imports. The country currently imports nearly 90% of its palm oil requirements.
According to Agriculture Secretary Francisco Tiu Laurel, the government roadmap provides for the development of around 300 thsd ha of oil palm plantations. To launch the program, the department is also seeking at least ₱300 mln in budget support in 2027.
The ministry says developing the domestic industry should create conditions for partial import substitution. The plan also envisages stronger government support for the sector and changes to the way it is administered by the Philippine Coconut Authority.
Palm oil in the Philippines is being considered not only as a food and industrial raw material, but also as a potential feedstock for the biofuel sector. The government aims to diversify the country’s feedstock base, which currently relies heavily on sugarcane and molasses.
To accelerate the development of the industry, the Department of Agriculture is also proposing a dedicated palm oil unit within the Philippine Coconut Authority. More specialized administration is expected to help speed up investment and production projects.
To Read more about Edible Oil News continue reading Agriinsite.com
Source : Ukr Agro Consult
