Stakeholders in the palm oil sector have approached the Malaysian High Commission to motivate Malaysian palm oil companies to invest in Ghana’s palm oil industry.
Industry leaders are urging their Malaysian counterparts to accelerate Ghana’s transition to self-sufficiency in oil palm production.
Reports indicate that Europeans in Malaysia during the early 1900s journeyed to Ghana to study oil palm plantation cultivation. They successfully acquired seeds and production techniques to develop their industry.
This has enabled Malaysia to be named the world’s second-largest producer of palm oil after Indonesia as their economy largely rests on the commodity.
The country’s palm oil industry, according to statistics, produces about 90 million tonnes of lignocellulosic biomass, including empty fruit bunches, oil palm trunks, and oil palm fronds, as well as palm oil mill effluent (POME).
Meanwhile, Ghana’s oil palm plantation cultivation has dwindled as the industry players are seeking to partner their Malaysian counterparts to grow the palm oil sector.
During a business meeting held on Friday, January 10 in Accra, officials from the Ghana Free Zones Authority and Peekaf Company Limited urged the Malaysian High Commissioner to lead efforts in advancing the partnership. They highlighted the importance of institutional research, knowledge sharing, equipment manufacturing, strategic investment, and technology transfer to boost the growth of Ghana’s palm oil industry.
Kwame Asante Nsiah, the Director of Enclaves, Zones, and Application at the Ghana Free Zones Authority, explained after the meeting that this partnership will allow Ghana to benefit from Malaysia’s expertise in sustainable palm oil production, positioning the country to capitalize on the significant demand across Africa.
The partnership, according to Mr. Asante Nsiah, equally aims at creating an opportunity to strengthen the bonds between Malaysia and Ghana particularly in the palm oil industry.
The Malaysian High Commissioner, Syed Nauzer Idid on his part praised the leadership of Peekaf Company Limited and the Free Zones Authority for taking a bold step to pool resources with Malaysian palm oil firms to develop Ghana’s palm oil industry.
He described the move by Peekaf Company Limited and Ghana Free Zones Authority as apt and pledged to facilitate a Networking Programme where youth in Agric will travel to Malaysia to be trained in Palm Oil Trade.
The commissioner remains hopeful about the potential collaboration between Ghana and Malaysia to boost the oil palm trade. Meanwhile, Alex Okyere, CEO of Peekaf Company Limited, expressed his desire for industry leaders in both nations to develop strategies for mechanized farming. This approach aims to increase palm oil production, meeting the rising demands of Ghana, West Africa, and beyond.
