RM50m match­ing grants to boost qual­ity, safety of prod­ucts

New Straits Times - - Busi­ness - Zakariah Za­rina

We have been pro­duc­ing prod­ucts that are safe and of the high­est qual­ity, but we want higher food safety stan­dards. DATUK SERI MAH SIEW KEONG Plantation In­dus­tries and Com­modi­ties Min­is­ter

The gov­ern­ment will al­lo­cate RM50 mil­lion in grants to as­sist the palm oil in­dus­try to­wards en­hanc­ing the qual­ity and safety of Malaysian palm oil prod­ucts and con­sump­tion.

“We will award the match­ing grants to com­pa­nies from the pri­vate sec­tor to con­duct re­search. The com­pa­nies, how­ever, must have ma­jor­ity shares owned by Malaysians,” said Plantation In­dus­tries and Com­modi­ties Min­is­ter Datuk Seri Mah Siew Keong.

“The grants are for re­search to be car­ried out on ways to elim­i­nate palm oil con­tam­i­nants to en­sure the high­est level of safe palm oil prod­ucts,” he said af­ter launch­ing the Palm and Lau­ric Oils Price Out­look Con­fer­ence 2017 (POC 2017), here, yes­ter­day.

Mah said Malaysia is the world’s sec­ond-largest palm oil pro­ducer.

“We have been pro­duc­ing prod­ucts that are safe and of the high­est qual­ity, but we want higher food safety stan­dards,” he added.

Mah also said Malaysia would make it manda­tory for the cer­ti­fi­ca­tion of sus­tain­able palm oil un­der the frame­work of Malaysian Sus­tain­able Palm Oil.

“This scheme, which was im­ple­mented on a vol­un­tary ba­sis be­gin­ning 2015, will be made manda­tory in stages start­ing De­cem­ber 31 next year,” he added.

Mean­while, Mah said Malaysia was still ne­go­ti­at­ing with In­done­sia on stan­dar­d­is­ing the ex­port duty struc­ture for crude palm oil (CPO).

“We have not fi­nalised any­thing. We have re­ceived feed­back from var­i­ous up­stream and down­stream in­dus­tries, but we hope to work with In­done­sia on stan­dar­d­is­ing the price struc­ture.

“Malaysia hopes to dis­cuss the pos­si­bil­ity of hav­ing a com­mon tax struc­ture with In­done­sia so as not to be in con­flict with the world’s palm oil trade,” he said.

The mis­match in the CPO ex­port duty struc­ture had led to a dis­count of be­tween US$15 and US$30 (RM133.35) per tonne in the trad­ing of var­i­ous palm oil prod­ucts be­tween In­done­sia and Malaysia.

The Cus­toms Depart­ment raised the CPO ex­port duty to eight per cent this month, from 7.5 per cent last month.

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.