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Palm oil experts are generally painting a good short-term outlook for the sector in 2018. However, it still faces mounting challenges from the west as the European Union (EU) threatened to ban the usage of palm oil as biofuel, while experts also believe that there could be a possible influx of palm oil supply which could affect crude palm oil (CPO) prices. BizHive Weekly takes a look at developments in the palm oil sector:

“We will enlighten them (the EU) that palm oil industry players in our country are largely smallholders and not big plantation companies. We have to correct the negative perception about palm oil among European consumers due to incorrect information disseminated as it (palm oil) is more efficient than other vegetable oils. We take this seriously, if possible, we can try to boycott food products from Europe, especially those produced by manufacturers having anti-palm oil labels.”

“We are facing a challenge from Europe (threat of palm oil curb), but at the same time, we are focusing on new consumers. Similarly, increased consumption patterns will emerge elsewhere in Asia Pacific, Indian sub-continent, China and the Middle East. I am confident, palm oil will feature very strongly in the food basket of many developing nations and our market strength in these geographical locations need to be enhanced.”

Datuk Seri Mah Siew Keong, Minister of Plantation Industries and Commodities

“In Sarawak, there are many oil palm growers; either they are independent smallholders, organised smallholders under Salcra (Sarawak Land Consolidation and Rehabilitation Authority) or Felcra (Federal Land Consolidation and Rehabilitation Authority) or those participating on a jointventure with the private sector under Land Custody and Development Authority (LCDA or Pelita). Our authorities and small farmer organisations led by Salcra are determined to prevent this threat. Communication with European ministers is extremely important in defending the rights of our small farmers.”

Datuk Amar Douglas Uggah Embas, Deputy Chief Minister of Sarawak

Tan Sri Shahrir Abdul Samad, Federal Land Development Authority (FELDA) chairman