Govt to focus on selling palm oil to East and West Asian countries, says deputy minister

TheEdge Mon, Apr 12, 2021 06:32pm - 1 month ago

KLUANG (April 12): The government through the Ministry of Plantation Industries and Commodities will be focusing on selling Malaysian palm oil to East and West Asian countries following high demand from those areas.

Deputy Minister Datuk Seri Dr Wee Jeck Seng said among the countries that had increased their palm oil purchases are Saudi Arabia, Afghanistan and several countries in Southeast Asia.

“Saudi Arabia that imported 300,000 tonnes Malaysian palm oil per year previously has increased its purchase to 500,000 tonnes, while Afghanistan doubled its purchase to 150,000 tonnes per year,” he told reporters during a visit to the Malaysian Palm Oil Board (MPOB) research station near here today.

Meanwhile, Wee reiterated his regret over Sri Lanka’s recent decision to follow the footsteps of several European Union (EU) nations not to buy Malaysian palm oil.

“Sri Lanka should have obtained more precise information regarding palm oil from us, and I don’t understand why this decision was made so hurriedly using the same reason as the EU.

“For information, we have our own legislation in the palm oil industry, [including,] among others, the Malaysian Sustainable Palm Oil (MSPO) which emphasises agriculture and good governance, thus producing quality products,” he said.

He said the country had filed its objection to the World Trade Organization (WTO) and is now awaiting its decision while actively seeking new markets.

He added that Sri Lanka previously imported 200,000 tonnes of Malaysian palm oil annually.

On the research station, Wee said his ministry is proud of the MPOB for having the largest germ plasma research station and collection in the world of over 841 hectares, of which 98% of land is used for research purposes.

Read also:
Malaysia’s March CPO output rises m-o-m for first time in six months
Malaysia's CPO production to rise to 19.5 million tonnes in year ending September 2021 — US Department of Agriculture
HLIB Research: CPO prices to remain above RM3,500 per tonne in 2Q, trend down 'more noticeably' from 2H21

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