FGV Holdings Bhd, a leading agribusiness and food company in Malaysia, expects to double the sales of its dairy products in 2024, as they are up to 20% cheaper than competing brands.

Head of integrated farming Abdul Razak Aya said the company is optimistic about the prospects of its locally produced and cost-efficient dairy products brand.

“It’s cheaper because it is local and we produce it ourselves. We produce it from our factory in Linggi. And the cattle we raise also consume food from FGV,” he told reporters after the launch of a new dairy product, Acerola Yogurt, under its Bright Cow brand recently.

He said that FGV is also in the business of producing livestock feed from processed oil palm waste.

“We use these to feed the dairy cattle and can offer our products at cheaper prices, thus helping the public to access healthy and fresh products that are also affordable,” he said.

Furthermore, he said, the company’s commitment to enhancing domestic dairy food security is central to its strategy.

“Malaysia has only achieved a 60-70% self-sufficiency level (SSL) and FGV is committed to increasing the domestic SSL and diversifying our dairy product range made from locally-sourced fresh milk,” he said.

Razak disclosed that FGV has also ventured into rice production. It has cultivated 700 hectares of fragrant rice in Selangor and Perak. The initiative falls under the Ministry of Agriculture and Food Security’s Large-Scale Smart Paddy Field (Smart SBB) programme, where FGV collaborates with 400 local farmers.

“Hopefully, through the collaboration between FGV and padi farmers, we can increase the fragrant rice yield by as high as twofold. We have done it for two years comprising five seasons. And the prices we offer are indeed competitive,” he said.