FELDA VENTURE INTO CANOLA BUSINESS LAUDABLE

Pleased to share an article written by Saraswathi Muniappan from BERNAMA.


KUALA LUMPUR, Feb 13 (Bernama) -- The Federal Land Development Authority (Felda)'s venture into the canola business in Canada is laudable and will expand Malaysia's presence into the oils and fats industry, said Hulu Selangor Member of Parliament P. Kamalanathan.

"I am impressed with Felda's bold decision to get into the industry. Felda is known for palm oil and the industry's development. Entry into the canola business will strengthen its presence further in the oils and fats market," he said.

Canola, an acronym for Canadian Oil Low Acid Canola, is from the rapeseed family with low erucic acid. Its seeds are used to produce edible oil and is also suitable for biodiesel.

The business, TRT ETGO du Quebec Inc, held via Felda's commercial arm, Felda Global Ventures Holdings Bhd (FGV), has made a good impact in the Canola industry in Canada, he told Bernama after visiting the plant here today.

TRT ETGO is a canola seed and soybean crushing plant, with palm oil blending capabilities for both types of oil.

"I think they could be among the leaders in the industry right now," he said, adding that the success of the business was evident from the viability of Felda's commercial venture.

The crushing plant has help to promote Canola cultivation by creating more demand.

Farmers here have expanded their acreage to 40,000 now as compared with 10,000 before FGV owned the crushing plant, amid TRT ETGO's effort in promoting and creating awareness of the benefit of planting Canola.

"This figure is expected to grow further," he said.

Kamalanathan said he was proud to see the entire plant managed by Malaysians.

He said the venture into the canola business would help FGV expand Felda's presence in North America's oils and fats market.

Going forward, Kamalanathan said the government should assist Felda to venture into oil palm plantation which had a huge potential in Brazil.

"I would put in a proposal for the government to consider," he added.

-- BERNAMA