CPOPC aims 93% of world's palm oil producing countries to become members by next year

KUALA LUMPUR: The Council of Palm Oil Producing Countries (CPOPC) aims to have 93 per cent of the world’s palm oil producing countries as members by next year, especially once countries such as Thailand, Papua New Guinea, Colombia, Ghana and Nigeria are on board.

Deputy Secretary General of CPOPC Datuk Nageeb Wahab said the council has been trying to bring in countries from all continents to join the council and these countries are in the process of becoming members at the moment.

"We have rectified our charter and in our charter within the next two years, which is one year ago that all have to become our board of members. So, we got a timeline for another year and we are optimistic that they will come on board.

"They are interested but because of the countries’ legislative process, it’s getting delayed,” he said at a press conference after the opening ceremony of the 10th International Planters Conference here today.

Nageeb said the council would have more strength and weight once Thailand comes on board as the country is the third world’s biggest producer but the process was put on hold due to the country’s general election process.

"Once the government settled in, we will make another approach to them as they have indicated their willingness to talk to us previously,” he said.

On European Union Deforestation-free Regulation (EUDR), he said the recent mission to seek solutions regarding the law was seen as successful and the council is in a good position towards the goal as the industry has been getting more attention among the governments, which has been lacking before.

"50 per cent of the world’s production came from smallholders and if you do not accept them, you’re sidelining the smallholder from the whole value chain, hence, we want them to accept all standards in order to bring the smallholders on board as well.

"So, what we are asking is that there must be a reference on Malaysian Sustainable Palm Oil (MSPO) standard when they implement EUDR that comes into obligation 18 months from now,” he said.

He said the council wanted to do its level best to help smallholders from being excluded from the supply chain.

On the impact of the ringgit weakening towards palm oil export, Malaysian Palm Oil Council (MPOC) chairman Datuk Carl Bek-Nielsen said the weakening of local currency has been supportive to some extent but with ups and downs as a lot of currencies seen to be weakening too recently.

"I see the demand is already picking up for exports like countries from China, India, the Middle East and Africa. So, I do not see an issue if we increase our production as there is a market for it,” he added. - Bernama:

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!


Next In Business News

Wall St poised for weak open as rate worries keep Treasury yields elevated
Poh Kong's net profit tumbles 83% in 4Q
Ringgit ends easier against US dollar, stronger versus other major currencies
FGV names Rastam Mohd Isa as new chairman
Samaiden and Meta Bright collaborate to advance clean energy initiatives within APAC
Tomei units get pawnbroking, money lending license
VS Industry expects sustained sales growth after 86% profit surge
Ecoscience gets RM38mil construction job
Aeon Credit stays vigilant amid economic challenges
SNS Network upbeat on ICT industry growth

Others Also Read