Oil palm estate to expand, double output

AKAMI Oil Palm (AOP) project, an independent estate near Kimbe in West New Britain, will double its production using a K5.3 million loan from the National Development Bank that will finance new plantations.AOP managing director Albert Camillus told The National currently, the company produces a minimum of 240 tonnes annually from a land just less than 200ha.Cammilus said NDB’s assistance would increase its productivity and help it acquire a new block of plantation.Camillus, who came from Nuku in the West Sepik, is now a proud owner of a multi-million kina oil palm project.He is one of the many in the province that supply oil palm fruits to New Britain Palm Oil.Nuku MP and Minister for Housing Andrew Kumbakor, who witnessed the loan presentation, lauded AOP for becoming a medium-sized oil palm entrepreneur.“Oil palm alone has K1 billion in exports earnings and getting serious in such medium-scale project is the way forward to go.“Compared to other agriculture-based export commodities, oil palm is the singles biggest earner and the government should look more seriously into expanding and encouraging locals to get into serious business in the industry.”The other two NDB clients that received loans were KK & Sons from Mt Hagen for a total of K1.6 million for equipment and plant hire, while Madang Bakery received K500,000 for redevelopment.