Malaysia must diversify palm oil markets amid US tariffs

Malaysia needs to diversify its palm oil supply markets to reduce its reliance on any one export destination in light of tariff challenges posed by the United States, Malaysian Palm Oil Board (MPOB) chairman Datuk Mohamad Helmy Othman Basha has said. He noted that the 24% tariff imposed by the United States on Malaysian palm oil exports poses a major challenge to the industry, potentially impacting the country’s export volumes. “While the tariffs may result in lower palm oil exports to the United States, the negative impact will be more pronounced in the importing country due to the limited availability of alternatives. Palm oil used in the US industry cannot be easily substituted by other oils, suggesting that the increased costs may ultimately impact US consumers,” he said at a meeting of the advisory committee of the 2025 development plan. He noted that the government, through the Ministry of Plantations and Commodities, is actively engaging with its ASEAN counterparts to ...