Malaysia: Pineapple as the latest trend in IOI Corp's push for diversification

A spokesperson from IOI Corp Bhd has stated that in early 2022, the oil palm planter expects to reap a bountiful harvest of MD2 pineapples, as well as other cash crops. IOI Corp said that it was thanks to the tenacity and persistency of its Tangkak, Johor-based Sagil Estate team, 25,000 MD2 pineapples have been planted each month since August 2020.

"By December 2020, a staggering 125,000 MD2 pineapples had been successfully planted with minimal workforce. These pineapples were intercropped between rows of aromatic green dwarf/pandan coconut trees and other crops such as bananas and kenaf at Sagil Estate," IOI Corp said.

Instead of relying solely on oil palm, IOI Corp's strategic priority to diversify to other crops was envisioned by its group managing director and chief executive Datuk Lee Yeow Chor in his five-year plan, which was introduced in March 2020.

"As we diversify our crops from 99% reliance on oil palm to other crops, we will be limiting our exposure to palm oil price volatility as we grow and yield a field of profitable cash crops. Intercropping pineapples with other fast-growing crops will also improve our soil conservation and increase our land output," IOI Corp said.

Source: theedgemarkets.com

 

Photo source: Dreamstime.com


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