Aging farmers stall palm replanting, threatening global supply
Malaysian oil palm farmer Suratmen Mosman faces a dilemma that could sap supplies from the world’s top exporters and drive up prices of a vegetable oil relied on by billions.
The aging trees on his plantation are bearing less fruit, but the 85-year-old is holding off replacing them as he doesn't want to lose income while waiting the three to five years it takes for new trees to start yielding a crop and the years beyond that it will take for them to reach peak production.
Government subsidies to encourage replanting are not as high as they once were and he needs to support his family. With aging trees bearing less fruit, the replanting rate has fallen below official targets, threatening long-term output from one of the world’s top palm oil producers.
Used mostly as a cooking oil, but also to make cakes, cosmetics and cleaning products, palm oil makes up more than half of the world's vegetable oil supply and 85% of the crude product comes from Malaysia and Indonesia.
REUTERS VIDEO
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