Palm oil has become a significant driver of economic growth and development in Papua New Guinea (PNG), contributing to increased agricultural output, job creation, and revenue generation. As one of the leading agricultural exports, palm oil has stimulated investment in rural infrastructure, enhancing access to markets and services for local communities. The palm oil sector employs thousands of people, directly and indirectly, thereby improving livelihoods and reducing rural poverty. According to the PNG National Agricultural Research Institute, palm oil production contributed over K200 million to the national economy in recent years, with the industry supporting about 30,000 smallholder farmers. Additionally, the sector's contributions to government revenues through export taxes and royalties have been pivotal for funding public services and infrastructure development. Overall, palm oil serves as a cornerstone for PNG's agricultural development, promoting sustainable practices that can enhance environmental stewardship while fostering economic resilience.
Write a paragraph of how palm oil contributions economic growth and development in png. In what areas and is there any statistical support
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