Oil palm making K2bil annually

By LUKE KAMA
THE oil palm industry brings K2 billion in export revenue into Papua New Guinea every year and is the best-performing agriculture industry in the country right now, chairman of Rural Industries Council Sir Brown Bai says.
Sir Brown, who is also a long-time board member of Hargy Oil Palms Ltd, said in Port Moresby on Monday that the oil palm industry was operating at world-standard in PNG.
He said it was delivering very well for the country in terms of bringing in export revenue every year and providing employment opportunities for Papua New Guineans.
It delivered services like roads, schools, bridges, health services and provided long-term income opportunities for rural smallholder farmers.
Sir Brown, when commending Hargy for its 40 years of production in PNG this year since April 28, 1978, said PNG needed more investments in the agriculture sector to grow a vibrant and robust economy.
“Hargy and a sister company like New Britain Palm Oil Ltd are not just agricultural companies: They are world-class companies and they are the contributors to the integrity and growth of our economy in the agriculture sector,” he said.
“They contribute around K2 billion in revenue from exports every year and that’s a remarkable achievement.”
Sir Brown said old palm, being the leading agriculture industry performer, was a challenge to others to emulate.
Hargy general-manager Graham King said the company brought in more than K350 million in export earnings and provided opportunities to more than 60,000 people living in the rural areas of PNG where it operated.
“The value of our export is more than K350 million compared to the exports of the entire cocoa industry in PNG, which is around K200 million,” he said.
“That volume of exports we produce is just from one little place in West New Britain that we operate in.”