Palm oil ex­ports to ex­ceed RM70 bil­lion this year

The Borneo Post - - FRONT PAGE -

KUALA LUMPUR: Palm oil ex­ports value is ex­pected to ex­ceed RM70 bil­lion this year com­pared with RM67 bil­lion recorded last year, said Min­is­ter of Plan­ta­tion In­dus­tries and Com­modi­ties, Datuk Seri Mah Siew Keong.

He said the an­tic­i­pated higher ex­ports value would be driven by im­ports from Euro­pean coun­tries, In­dia, China, Asean coun­tries and new mar­kets such as Iran.

“Iran of­fers a big po­ten­tial for ex­porters be­cause this year, the coun­try’s im­ports of Malaysian palm oil have shot up. This is why we are work­ing hard to look at new mar­kets,” he told a press con­fer­ence after of­fi­ci­at­ing the In­ter­na­tional Palm Oil Congress and Ex­hi­bi­tion ( PIPOC) 2017 here yes­ter­day.

Mah was con­fi­dent that the palm oil in­dus­try would per­form bet­ter this year in com­par­i­son to last year as its ex­port value had in­creased by 22 per cent to RM51 bil­lion up to Au­gust 2017.

On palm oil price, he said it would likely av­er­age at the cur­rent level of be­tween RM2,600 and RM2,700 a tonne for next year while pro­duc­tion was ex­pected to in­crease to 19.5 mil­lion tonnes in 2017 from 17.5 mil­lion tonnes recorded in 2016.

Com­ment­ing on the pos­si­ble ban of palm oil based biodiesel by the end of 2020, Mah said this was a clear case of dis­crim­i­na­tion against palm oil and went against the World Trade Or­gan­i­sa­tion rul­ing given that other oils would still be al­lowed un­til 2029.

He said the re­cent vote by the Euro­pean Union (EU) Par­lia­ment en­vi­ron­ment com­mit­tee push­ing for a ban on palm oil based biodiesel by end-2020 was an­other at­tempt that is part of a tar­geted and or­gan­ised at­tempt to ma­lign the palm oil in­dus­try.

“We will be do­ing many rounds of dis­cus­sions and I am con­fi­dent that the EU will not im­ple­ment the dis­crim­i­na­tory pol­icy and they will see our point of view.

“Fur­ther­more, the Prime Min­is­ter Datuk Seri Na­jib Tun Razak will be meet­ing In­done­sian Pres­i­dent Joko Wi­dodo next week and palm oil will be high on the agenda to see how we can pro­tect the mar­ket,” he said.

Mean­while, Mah said the newlyan­nounced Com­pre­hen­sive and Pro­gres­sive Agree­ment for Trans- Pa­cific Part­ner­ship (CPTPP), the new TPP with­out the United States, would pave the way for Malaysian com­mod­ity to fur­ther pen­e­trate mar­kets such as Chile and New Zealand.

The three- day PIPOC 2017, themed ‘ Trea­sur­ing the Past, Chart­ing the Fu­ture’, was or­gan­ised by the Malaysian Palm Oil Board. — Ber­nama

Iran of­fers a big po­ten­tial for ex­porters be­cause this year, the coun­try's im­ports of Malaysian palm oil have shot up. This is why we are work­ing hard to look at new mar­kets. Datuk Seri Mah Siew Keong, Min­is­ter of Plan­ta­tion In­dus­tries and Com­modi­ties

KUALA LUMPUR: The Malaysian Palm Oil Board (MPOB) through its Palm Oil Re­search and Tech­ni­cal Ser­vice In­sti­tute in China and AladdinStreet China has forged a strate­gic al­liance to en­hance Malaysian palm oil mar­ket through e-com­merce plat­form in the repub­lic.

Through the part­ner­ship, AladdinStreet China will grant free reg­is­tra­tion value at RM191,423.29 to the first 10 Malaysian palm oil ex­porters or mer­chants which suc­cess­fully joined its plat­form.

Malaysia Plan­ta­tion In­dus­tries and Com­modi­ties Min­is­ter, Datuk Mah Siew Keong, who wit­nessed the sign­ing cer­e­mony be­tween the two en­ti­ties yes­ter­day, said it was timely for the in­dus­try mem­bers to grab this op­por­tu­nity to be on board the e-com­merce through the plat­form pro­vided by Aladdin Street China in strength­en­ing their mar­ket there.

“China has a pop­u­la­tion of more than 1.5 bil­lion while AladdinStreet has very strong mar­ket­ing strate­gies in help­ing the mer­chants mar­ket their prod­ucts in e-com­merce.

“I am con­fi­dent this col­lab­o­ra­tion will be suc­cess­ful,” he told a press con­fer­ence after of­fi­ci­at­ing the In­ter­na­tional Palm Oil Congress and Ex­hi­bi­tion ( PIPOC) 2017 yes­ter­day.

Mean­while, MPOB in a state­ment said the col­lab­o­ra­tion was achieved by cap­i­tal­is­ing on the in­cen­tives and fa­cil­i­ties of­fered by the Chi­nese gov­ern­ment un­der Belt and Road ini­tia­tives to e-com­merce, among oth­ers, com­pet­i­tive pref­er­en­tial tax and free ware­hous­ing fa­cil­i­ties in iden­ti­fied free trade zone in China and cost-ef­fec­tive lo­gis­tic sys­tems.

The three day PIPOC 2017 which kicked off to­day was at­tended by more than 2,000 par­tic­i­pants lo­cally and in­ter­na­tion­ally. — Ber­nama

Mah (third right) hav­ing a group photo with two awards re­cip­i­ents at PIPOC 2017 yes­ter­day. Also present are Malaysian Palm Oil Board Chair­man Datuk Seri Ah­mad Hamzah (third left) and Malaysian Palm Oil Board Di­rec­tor Gen­eral Datuk Ah­mad Kushairi Din (sec­ond right). — Ber­nama photo

Mah de­liv­ers his speech dur­ing the PIPOC at Kuala Lumpur Con­ven­tion Cen­tre yes­ter­day. — Ber­nama photo

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.