KUALA LUMPUR: Malaysia, the world’s second-largest producer and exporter of palm oil, warned today against new European Union rules that could hurt demand for a commodity used in foods from snacks to chocolate spread, threatening a US$60 billion industry.
“Our industry must be ready to anticipate any challenges to these trade impediments and most importantly address the issues, especially on food safety,” Kok told a conference on palm oil supply and demand outlook near here. Environmentalists have attacked palm oil over the vast areas of forest they say have been cleared to grow the commodity that is consumed by billions of people.
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