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EU palm oil ban will not impact M’sia as the block imports relatively low amount of the commodity

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Malaysia exported 15.72 million metric tonnes (MT) of palm oil for a total revenue of RM135 billion theSun theSundaily palmoil malaysia news business exports

The European Union’s import ban on palm oil and other commodities will not affect Malaysia, said Heriot-Watt University professor and palm oil industry researcher Dr Denny K.S. Ng.

Reacting to the move, Deputy Prime Minister and Commodities Minister Fadillah Yusof said it will affect free and fair trade, and adversely impact the global supply chain. “Some people claim that the Malaysian Sustainable Palm Oil certification scheme is only applicable to major palm oil industries, while the smaller ones escape such controls.

Ng said palm oil is a valuable industry as it is used in various household items, adding that for every fresh fruit bunch, two types of oils can be extracted – crude palm oil and crude palm kernel oil .

 

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