KUALA LUMPUR: Malaysia must act fast and promote Malaysian palm oil to new markets such as countries in the Middle East and Africa, says Primary Industries Minister Teresa Kok.
According to Kok, this was because other countries which are producing palm oil are also trying their best to penetrate markets in those countries.
“We see that many competing palm oil producing nations have entered into this new market. So, if we are slow and we aren’t promoting our palm oil, we might lose our market position in those potential countries,” she said.
Kok was speaking to reporters when met at the Parliament lobby on Monday (March 25).
Kok also said that her deputy, Datuk Seri Shamsul Iskandar Md Akin and the Malaysian Palm Oil Council (MPOC), have been exploring new markets to export palm oil to since the beginning of 2019.
She said that Shamsul has visited Pakistan and Ethiopia previously, and added that she is set to visit a few North African countries and attend a trade seminar in Saudi Arabia.
Earlier on Monday, Prime Minister Tun Dr Mahathir Mohamad says he has written to the European Union (EU) about its campaign against Malaysian palm oil.
Dr Mahathir previously said that Malaysia will retaliate against the move by boycotting certain European products.
Kok said that in an effort to boycott European products over the ban of palm oil, Malaysia will work together with Indonesia on the importation of palm oil products.
“We will definitely work with Indonesia. Senior officers from Indonesia have come to Malaysia to meet my officers. So, both countries will meet and discuss these issues," she said
“Indonesia and Malaysia have a combined production of 85% of the world’s total palm oil production,” added Kok.
The European Parliament is in the process of banning the use of palm oil for biofuel, while several retailers in Britain and Iceland have announced a boycott of palm oil products.
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