FGV aims RM12m sales from pineapple project in Perlis

PETALING JAYA: FGV Holdings Bhd is targeting to produce 4,000 metric tonnes of MD2 pineapples per year with sales revenue of RM12 million under its Chuping Agro Valley (FCAV) project in Perlis.

FGV said 150 acres of contract farms has been allocated, which provides opportunity for 15 local agricultural entrepreneurs to develop MD2 pineapple crops under the project.

The group highlighted that the FCAV project covers four segments along with the pineapple contract farms, which are commercial cassava farms, harumanis mango farms and a dairy valley.

In addition, the project also includes animal feed mills, workers’ housing complexes and oil palm research centers.

FGV anticipated the project to develop on schedule.

Its group CEO Datuk Haris Fadzilah Hassan commented that its investment in the FCAV project amounted to RM100 million, which will transform Perlis as Malaysia’s premier food agro producer.

“This project also supports the government’s intention to produce more modern high-income agropreneurs, thus boosting the development of the country’s agriculture and food sector”, he said in a press release.

Haris also noted that the group is proud to contribute to the economic development of the state by providing employment opportunities to the locals.

“Apart from the MD2 pineapple plantation which is expected to start at the end of this year, the pilot project for the commercial cassava cultivation will start in September 2020,” he said.

For cassava, FGV has earmarked 3,500 hectares for planting with a cassava starch production target of 50,000 metric tonnes per year with a sales revenue of RM94 million.

It clarified that cassava is selected as one of the main commercial crops in this project for the production of starch which has high demand and commercial value in domestic and foreign markets.

With the production of raw materials from cassava, the group estimated that the dependency of national starch imports will be reduced by 8% per annum.

It pointed out that cassava starch is a major ingredient in downstream industries such as the production of maltodextrin, bio-ethanol, biofuel, bio-plastic, amino acids, pharmaceuticals and others.

In addition, plant biomass can also be used as a component of animal feed.

On the whole, FGV expects the FCAV project to bring significant changes to the agricultural industry landscape in Perlis due to the use of the Industrial Revolution 4.0 approach, as it applies the latest agricultural technologies such as drones, mechanised planting and harvesting systems with high value-added activities.

It stated that the development of the project will take two years and serve as a location for investment, employment opportunity, human capital development and entrepreneurship.

The group also expects the FCAV will also trigger downstream industries for various agro products, especially in the Chuping Valley industrial area and Perlis.

source https://www.thesundaily.my/business/fgv-aims-rm12m-sales-from-pineapple-project-in-perlis-CD3588004