The initiative, which aligns with the Renewed Hope Agenda, will focus on expanding oil palm cultivation, modernizing processing facilities, and strengthening market linkages for smallholder farmers. It will also encourage private sector investment to enhance competitiveness and drive exports.
The new product targets households seeking natural and traditional cooking options.
The government is urging farmers to grow sunflower and soybean to reduce heavy spending on imported food and oils.
The country aims to cut fuel imports as global oil prices rise.
The acquisition will create by far the largest olive oil producer and seller in the United States by revenue, more than doubling Cobram Estate’s California footprint.