Zuraida: The government is committed to protecting the long-term interests of the palm oil industry

KUALA LUMPUR (5 February): The Ministry of Industries and Plantation Products (MPIC) will continue to work hard to ensure that the long-term interests of the palm oil industry are safeguarded and to help smallholders d palm oil and other stakeholders.

This is despite US and EU sanctions imposed on Malaysian palm oil, Minister Datuk Zuraida Kamaruddin said.

She added that the MPIC will work to expand Malaysia’s palm oil market to overseas markets, especially in West Asia, such as Turkey and Saudi Arabia.

In 2021, Malaysian palm oil exports to Turkey amounted to 703,588 tonnes, while Saudi Arabia has pledged to increase Malaysian palm oil imports to 500,000 tonnes, which is expected to reach RM1.5 billion in value this year.

“Recently, following my visit and the MPIC delegation to Saudi Arabia, several MoUs were signed with several companies, including Savola Group, which is the largest importer and distributor of edible oils in Saudi Arabia.

“MPIC has concluded three areas of cooperation, including the construction of a storage terminal in Jeddah, making Saudi Arabia a hub for the re-export of Malaysian palm oil, and a joint campaign to promote the benefits Malaysian palm oil in their country and the world,” she said in a statement.

Zuraida expressed confidence that the country’s palm oil industry will continue to thrive in line with the ongoing efforts of MPIC.

She also called on all Malaysians to come together in solidarity with the MPIC in an effort to counter Western countries’ anti-palm oil propaganda “which is clearly aimed at bringing down the country’s palm oil industry.” .

“We must ensure that the country’s palm oil industry continues to be one of the biggest contributors to the national economy,” she said.

The minister noted that for the first time in the history of the domestic palm oil industry, crude palm oil prices reached a record high of RM5,750 per ton this week, bringing d huge benefits to around 400,000 smallholders across the country.

“This increase demonstrates the commitment and dedication of the MPIC, the Malaysian Palm Oil Board and the Malaysian Palm Oil Council, as well as the Malaysian Palm Oil Certification Council, to assist the rakyat through various government initiatives and policies,” a- she declared. .

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