Malaysian palm oil gaining greater global acceptance

Published 2022년 9월 14일

Tridge summary

Malaysia's palm oil has found new markets in Estonia, the Czech Republic, and Hungary, according to Plantation Industries and Commodities (MPIC) Minister Datuk Zuraida Kamaruddin. The country has exported significant amounts of palm oil to these countries between January and July of this year, despite Western misinformation. Zuraida believes that the war in Ukraine has also contributed to this growth, as it disrupted the supply of traditional oils. She anticipates that the growth in these markets will continue post-war. The MPIC is also targeting more non-traditional markets, especially the EU, and aims to expand market share in traditional importers. The productivity, versatility, and availability of Malaysian palm oil have impressed potential buyers.

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Original content

KUALA LUMPUR (Sept 14): Malaysian palm oil has been able to penetrate new global markets mainly in three countries, namely Estonia, the Czech Republic, and Hungary which have started purchasing the commodity in recent months. From January and July this year, Estonia imported 2,501 tonnes of Malaysian palm oil worth RM20.22 million, the Czech Republic imported 95 tonnes worth RM0.88 million, and Hungary imported 853 tonnes worth RM6.73 million. Plantation Industries and Commodities (MPIC) Minister Datuk Zuraida Kamaruddin said this shows that the commodity has gained greater international acceptance amid the ministry’s intense “Global Movement to Champion the Goodness of Palm Oil” campaign. “I am pleased with the development which came amid MPIC’s aggressive efforts to market our palm oil globally and to debunk Western myths and propaganda. “We acknowledge that our ability to tap into these new markets was partly attributed to the war in Ukraine which had resulted in disruptions to ...

Source: Theedgemarkets