Oil Palm Economic Loss

West New Britain Province and the country is estimated to have lost 4-million Kina from oil palm exports over the last six months.

This is a result of the burning down of more than 1-thousand oil palm blocks following the El Nino disaster last year.

More than 11-thousand dependents are also penny-less following the disaster.

The Oil Palm Industry Corporation Acting Project Manager, Michael Buka, says the economy loss will continue for the next two years until all oil palm trees are being replanted.

Mr. Buka says, production at the Hoskins Project dropped from 32-thousand to 27-thousand tonnes in January.

A report on the damages and loss has been completed and passed on to the Member for Talasea, Francis Marus, to assist with an economic development recovery program. NBC News / PNG Today