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Malaysia says can meet global demand after Indonesia bans palm oil exports

KUALA LUMPUR (April 24): Malaysia is confident it can meet global demand for palm oil after Indonesia's announcement that it has banned exports of the commodity, said Plantation Industry and Commodities Minister Datuk Zuraida Kamaruddin.

“I am confident that Malaysia is ready and able to supply palm oil to global markets because our production is expected to rise following the reopening of its borders, which has enabled the hiring of foreign workers,” she told the media after handing over aid to 17 suraus and two mosques, as well as 350 families comprising the asnaf, single mothers and senior citizens in an event organised by the Malaysian Timber Council.

On the performance of the domestic timber industry, Zuraida noted that the timber industry has also been affected by allegations against the palm oil sector.

“We take the same approach with the timber industry; we will meet the European Union (EU) on May 8 with regard to the forced labour and palm oil issues, however, we have not gotten a date to meet the US Customs and Border Protection (US CBP),” she said.

http://www.theedgemarkets.com/article/malaysia-says-can-meet-global-demand-after-indonesia-bans-palm-oil-exports

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