Colombia could up its palm oil output by some 56 percent over the next five years to 2.5 million tonnes, according to a report published by Nasdaq.
The President of Fedelpalma, Jens Mesa, says that several crops are poised to mature over the period, producing a greater yield, potentially making the South American country the world’s third largest supplier, according to Nasdaq, quoting Reuters as its source.
“Colombia, with what it already has planted, could grow to more than 2.5 million tonnes of oil,” said Mesa. “We are working to develop these hectares, to reach their maximum output.”
Colombia currently boasts 500,000 hectares of palm plantations – and the potential for more is virtually endless with suitable conditions across some 25 million hectares – although further crops would require government investment.
The country’s palm oil could be of particular interest to the multinationals who use the raw material in FMCG goods including soaps and cosmetics because deforestation has not taken place there, according to Mesa.