SAO PAULO: Brazil could more than triple its planted area for producing palm oil over the next decade by expanding cultivation on already deforested land in the Amazon, said Victor Almeida, president of industry association Abrapalma.
Demand for biofuels is expected to boost growth in the sector, where existing expansion has largely taken place on land that was cleared previously, avoiding environmental risks while ensuring a supply of sustainable vegetable oil, Almeida said in an interview.
Almeida’s comments come as the world confronts successive heatwaves amid a warming climate, prompting industries to find feedstocks for advanced low-carbon biofuels such as sustainable aviation fuel.
“We’re going to reach 1 million hectares (2.47 million acres). Today we’re at 280,000 — that means more than tripling the sector. I think it’s possible to do that within 10 years,” said Almeida, who also chairs the board of Belem Bioenergia Brasil, one of the country’s largest palm oil companies.
Growth in the sector will be driven by demand for biofuels, while oil palm tree use in vegetable oil production will attract further investment, he said.
