Willie Mongin confident oil palm prices will not fall below RM3,000 per ton

Datuk Willie Mongin

By Jacob Achoi

KUCHING, Aug 13: Deputy Minister of Plantation Industries and Commodities Datuk Willie Mongin believes the prices of oil palm will not fall below RM3,000 per ton.

According to him, the prices of the commodity will not fall reach as low as RM2,000 per ton.

“For a commodity like oil palm, it still has potential to grow and we expect the prices to bounce back within six months and a year,” he told reporters today.

He added that the present low prices were due to the dumping by Indonesia, and reiterated that such situation will not be prolonged.

The Puncak Borneo MP said that after officiating at the Sewing and Weaving course for women in Puncak Borneo at his service centre at Sinaruh Hill, Jalan Borneo Heights.

Willie said at the moment, the prices of oil palm Fresh Fruit Bunch (FFB) was still fetching about RM700 per ton, adding that the prices of other commodities like cocoa and pepper were also quite stable at the moment, unlike in the past.

He also said that commodities still contribute significantly toward the gross domestic product (GDP) of the country.

On efforts to empower women in Puncak Borneo, Willie welcomed professionals and experts to come forward to help.

“As much as we want to help our women, particularly those in the B40 group, single mothers and those in the lower income group to generate their income, we hope to have the knowledge of professionals and experts to help,” he said.

He pointed out that various courses have been held to help these target groups, such as cooking courses.

“We also plan to provide courses to expose them to social media to enable them to embark on digital marketing for their products and services,” Willie added. — DayakDaily