The Malaysian Palm Oil Council sees palm oil exports to the EU stabilising over the long term despite EU deforestation regulation

Published 2024년 7월 10일

Tridge summary

The Malaysian Palm Oil Council (MPOC) remains optimistic about the stabilization of palm oil exports to the European Union (EU), despite the challenges posed by the EU Deforestation Regulation (EUDR). This is due to the confidence that local exporters can meet the sustainability criteria under the new rules, with up to 90% of palm oil products already being sustainable. The MPOC is also working to close the four identified gaps with the EU in geolocation mapping, e-tracing, labour policies, and definition of deforestation-free, hoping for recognition of the Malaysian Sustainable Palm Oil (MSPO) certification as a compliance pathway for the EUDR. Despite a decline in palm oil exports to the EU, the MPOC is also exploring new markets in Africa, the Middle East, and Central Asia, including Kenya, Turkey, and Uzbekistan, promoting smaller companies to expand into these markets.

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Original content

SHANGHAI (July 10): The Malaysian Palm Oil Council (MPOC) sees palm oil exports to the European Union (EU) stabilising in the long term and it will remain an important market for Malaysian palm oil despite challenges presented by the EU Deforestation Regulation (EUDR), as it is confident local players exporting to the region are able to meet sustainability criteria under the new rules. “I think the demand for palm from the EU will still remain healthy because food manufacturers say it’s the most affordable oil and there’s sustainable supply from producer countries and we have met the sustainability criteria. Up to 90% of the palm or palm oil products that are exported to the EU are already sustainable. So there’s no worry that products going to the EU are not certified sustainable,” said MPOC CEO Belvinder Kaur Sron. She said Malaysian palm oil producers exporting to the EU are “more ready” to meet the EUDR requirements with the Malaysian Sustainable Palm Oil (MSPO) certification ...

Source: Theedgemarkets