Move to mitigate EU palm oil ban

THE palm oil industry is an important contributor to Malaysia’s economy and development. It has boosted Malaysia’s economy by increasing income from exports and provided high-skilled and low-skilled jobs to more than 650,000 small farmers.

Palm oil accounts for more than 8% of the country’s exports and is worth approximately US$19.5bil. RM77.85bil of Malaysia’s annual export revenue is generated from palm oil and its products, and about 40% of all oil palm plantations in Malaysia are cultivated by small farmers.