Photo: hoachatvietnam

The Dac Nong Provincial People Committee has just lined out a policy to hand over 10,000 ha of forestry land to the CT Group of Malaysia to plant palm trees for oil, according to the Deputy Director of the Provincial Agricultural and Rural Development, Nguyen Van Bang.

The source said that Malaysian experts had completed a survey of 3,000 ha of land and other geographic conditions in the locality. The experts said that local geographic conditions are good enough to develop a large-scale plantation of palm trees for the production of oil.

As a first step, the company will try to plant palm trees in an area of 2,000-4,000 ha.

As of now, Vietnam spends up to US$ 700 million for the importation of vegetable oil, of which palm oil makes up 77.8 per cent.

Source: TT

Translated by Thu Nguyen