21 Aug '11, 4pm

Palm oil to fight drugs in Peru?

Palm oil to fight drugs in Peru? mongabay.com August 21, 2011 A private equity firm aims to invest roughly $50 million in new oil palm plantations in Peru, reports Bloomberg. Singapore-based Asian Agri Capital is portraying its potential investment as an anti-drugs measure. It says oil palm offers an alternative crop to coca — the plant used to produce cocaine — in Peru, which rivals Colombia as the top producer of coca leaf. “Palm oil has made money consistently for 30 years for its growers,” Dennis Melka, joint chief executive officer of Singapore-based Asian Plantations, told Bloomberg. “I tell people that it’s the most profitable crop that humans can grow outside of narcotics.” As of 2009 Peru had only 14,000 hectares of oil palm plantations according to the U.N. Food and Agriculture Organization. By comparison, Indonesia, the world's largest palm oil producer, has rou...

Full article: http://news.mongabay.com/2011/0821-peru_palm_oil.html

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