Sri Lanka palm oil ban won't affect Malaysia's commodity market

Published 2021년 4월 6일

Tridge summary

Sri Lanka's decision to ban palm oil imports from Malaysia is not expected to negatively impact Malaysia's palm oil industry, as it is experiencing growth in various countries including Africa and the Middle East. The demand for Malaysian palm oil is also increasing in the Philippines and Vietnam. Malaysian palm oil has achieved 90% Malaysian Sustainable Palm Oil (MSPO) certification and the Malaysian Palm Oil Green Conservation Foundation (MPOGCF) has been set up for conservation activities. Sri Lanka is urged to acquire accurate information about the efforts made by the Malaysian government to market palm oil abroad. Meanwhile, Malaysia has allocated RM10 million under the 12th Malaysia Plan to boost its cocoa and chocolate industry.

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Original content

MELAKA (April 6): Sri Lanka's ban on palm oil imports from Malaysia announced yesterday is not expected to affect the country's key commodity industry as Malaysia’s market is growing in several countries such as Africa and the Middle East. Minister of Plantation Industries and Commodities Datuk Dr Mohd Khairuddin Aman Razali said apart from that, the demand for Malaysia’s palm oil is also increasing in the Philippines and Vietnam, thus proving that the quality of the commodity is one of the factors that helped expand its market globally. “The world has a population of over seven billion people and we are confident our palm oil will be accepted worldwide. “If one party is not interested, many more are interested and most importantly we give the best quality in the country's palm oil production," he told reporters after the opening ceremony of the Malaysian Cocoa Board's Handmade Chocolate Entrepreneur Development Course and the launch of Lacrista Hotel Chocolate Kiosk here today. ...

Source: Theedgemarkets