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Reththy to palm growth

Reththy to palm growth

MONG Reththy Group (MRG) expects revenues from overseas sales of raw palm oil to increase by nearly US$2 million in 2010, its president said Monday. Mong Reththy, member of the senate and president of MRG, told the Post he expects revenues of $11 million this year compared to $8.06 million last year. He said that yields of oil palm fruit had increased, while prices of raw palm oil had also risen. Ith Nob, general manager of MRG, said that this year the company is selling raw palm oil for $700 per tonne, compared to $606 per tonne last year. According to plans, MRG also intends to spend about $32 million on building a cooking oil factory, able to produce 720 tonnes of oil per day, in Preah Sihanouk province in 2011. Lim Sokun, secretary of state of the Ministry of Agriculture, Forestry and Fisheries, said Monday that agricultural crops are entering improved market conditions as demand for agricultural products increases worldwide.

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