KUALA LUMPUR: The Malaysian Palm Oil Board (MPOB) has set up an Oil Palm Mechanisation Fund with an initial investment of RM30mil to facilitate further research and technology for the palm oil industry. Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong said the mechanisation fund involves contributions from government and private sector. "We hope the private sector will contribute RM5mil towards the fund for a start as this would help spur research and technology activities for small palm oil stakeholders here. "This would also aid in increasing productivity, efficiency and quality of palm oil production," Mah told reporters after opening the Palm Oil Economic Review and Outlook Seminar 2017 on Tuesday morning. The MPOB has projected palm oil price to average RM2,700 to RM2,800 per tonne in 2017.

Source: The Star January 17, 2017 03:39 UTC