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Malaysia, Papua New Guinea

Malaysian oil palm company looks to PNG

Kuala Lumpur Kepong Bhd (KLK) says it is looking to increase its plantation holdings in Papua New Guinea, Indonesia and other countries.

KLK Chief executive Tan Sri Lee Oi Hian says its necessary to look further afield as “opportunities to acquire land in Malaysia are limited as there is not much free land while brownfield land prices are high.”

The Sun Daily reports Lee as saying crude palm oil (CPO) prices are expected to hold steady above the RM3,000 per tonne level next year, as fundamentals of the industry remain intact despite the financial crisis in Europe.

He says the company is building three new mills in Indonesia to meet the growing fresh fruit bunches production from fast maturing areas.


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About Samantha Magick

Journalist and editor

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