Palm oil exports to exceed RM70 billion this year
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