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Palm Oil Penetarte In Three New Countriues Global Market

KUALA LUMPUR : Palm Oil has been able to penetrate new Global Market mainly in three countries, namely Estonia, the Czech Republic, and Hungary which have started purchasing the commodity in recent months.

From January and July this year, Estonia imported 2,501 tonnes of Malaysian palm oil worth RM20.22 million, the Czech Republic imported 95 tonnes worth RM0.88 million, and Hungary imported 853 tonnes worth RM6.73 million.

Plantation Industries and Commodities (MPIC) Minister Datuk Zuraida Kamaruddin said this shows that the commodity palm oil has gained greater international acceptance amid the ministry’s intense ” Global  Market Movement to Champion the Goodness of Palm Oil” campaign.

“I am pleased with the development which came amid the MPIC’s aggressive efforts to market our palm oil globally and to debunk Western myths and propaganda.

“We acknowledge that our ability to tap into these new markets was partly attributed to the war in Ukraine which had resulted in disruptions to the supply of sunflower and rapeseed oils, which were traditionally used in these countries,” she said in a statement today.

Zuraida also said that Malaysian palm oil will not only continue to have a presence in these markets but grow rapidly there even after the war is over.

She added that while the volume and value of imports Of Palm Oil from these countries are not like those from major importers like India and Turkiye, Global market these inroads were significant developments.

Meanwhile, the Malaysian Palm Oil Council chief executive officer Wan Aishah Wan Hamid said the agency will address issues related to palm oil certification and sustainability by focusing on decarbonisation as well as achieving net-zero and carbon neutrality, Bernama reported.

Speaking at the 7th International Palm Oil Sustainability Conference 2022 yesterday, Wan Aishah said that in the last few decades, the has faced multiple sustainability challenges from accusations of deforestation and the attrition of endangered wildlife to global warming, the sustainability of palm-based biofuels and the recent forced labour issues in the United States.

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