Its group CEO, Haris Fadzilah Hassan, said: “At the moment, the integrated farming blueprint is to supplement our income. When replanting oil palm, it takes three years for them to begin producing. So, we are looking at inter-cropping on the land.

“We may plant bananas, pineapples or watermelons on the same land as the seedlings. This could become a big venture, depending on the market.

“There is a drive by the government for big companies to help reduce our food imports.

“FGV has a lot of land and I think we need to play our part,” he said at press conference to announce FGV’s second-quarter results here today.

FGV was not looking at numbers yet, said Haris, but the venture will definitely involve smallholders and could be about contract farming.

The company may also diversify revenue streams through the development of 35 Bio-CNG (compressed natural gas) sites for industrial consumption and vehicle conversion.

On the European Union’s plan to ban palm oil, he said: “It does not really affect us (FGV). Our presence in Europe is minimal and this includes our biodiesel market, which only focuses on a local mandate.”

“The problem is that if the EU bans palm oil, we do not know which other markets will follow suit,” said Haris.