Sarawak will cease palm oil plantation expansion, says Teresa Kok

MIDF Research and Kenanga Research downgraded the sector from

KUALA LUMPUR: There will not be any more expansion of palm oil plantations in Sarawak, according to Primary Industries Minister Teresa Kok on Thursday.

Sarawak’s state govt will not issue new licences for plantation expansion, Kok says at industry event near Kuala Lumpur

Sarawak is Malaysia’s second-biggest palm growing state; Malaysia is world’s No. 2 palm oil producer.

About 1.26 million ha of palm oil area in Malaysia has gained Malaysian Sustainable Palm Oil certification, representing 21.7% of country’s total palm planted area, she said.

Certification scheme will be made mandatory by December 2019; all palm oil exports must fulfill requirements under MSPO by January 2020.

Palm oil prices are facing a cyclical downturn and will likely improve next year, Kok says. - Bloomberg