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FGV Holdings Bhd via its subsidiary, FGV Agri Services Sdn Bhd, introduced an environmentally friendly and cost-efficient weeding product for the agriculture sector, named “Weed Solut-ioN”.
The product was formulated with 70% non-toxic materials and herbicide adjuvant that can effectively decrease the rate of herbicide use, while increasing the efficiency of the substance, without leaving any phytotoxicity effects on crops.
FGV group CEO Mohd Nazrul Izam Mansor said FGV is committed to continuously developing sustainable innovations and technologies in its business operations which also contributes to the advancement of the industry.
“FGV always strives towards providing premium agricultural products and solutions to its customers, and we are thrilled to offer an environmentally-friendly innovation such as this to the market,” he said in a statement.
He noted that Weed Solut-ioN initiatives are in line with FGV’s commitment to create more value for the group and its customers through sustainable products and services, supporting the principles of the Roundtable on Sustainable Palm Oil (RSPO) and Malaysian Sustainable Palm Oil (MSPO).
“Weed Solut-ioN is also one of FGV’s initiatives in addressing the increasing prices of herbicides and in implementing cost-saving strategies for efficient weeding in our oil palm plantations.
“Through this product, FGV targets to save up to RM6 million annually,” he said.
According to him, the product reduces the rate of herbicide application by up to 50% without affecting the effectiveness of the herbicide itself when applied in the prescribed ratio.
Weed Solut-ioN was imported and tested by FGV R&D Sdn Bhd in collaboration with PT Pandawa Agri, a life science company that is based and operates in Indonesia.
“Through this strategic partnership, FGV Agri has been given the exclusive right to market the Weed Solut-ioN product in Malaysia,” he said.
Moving forward, FGV expects sales of one million liters of Weed Solut-ioN per year with an estimated revenue of RM10 million.
Concurrently, FGV Agri is the industry leader in the production and supply of high-quality oil palm planting materials, rodenticides, biopesticides and other premium agricultural products.
It is also the largest producer of oil palm seeds in Malaysia with an annual market share of approximately 40%.
Source: themalaysianreserve.com