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Major palm oil buyers are seeking to block FGV Holdings and Sime Darby Plantations from their global supply chain after the United States banned imports from the two Malaysian producers, four sources told Reuters.

Oil prices rose on Monday, with Brent futures nearing $60 a barrel, boosted by supply cuts among key producers and hopes for further US economic stimulus measures to boost demand

Malaysia will discuss with Indonesia to formulate the best strategy to protect the oil palm industry of both countries in the near future, said Minister of Plantation Industries and Commodities Datuk Dr Mohd Khairuddin Aman Razali.

The Ministry of Plantation Industries and Commodities (KPPK) is making efforts to boost the country’s pepper production following rise in demand at both local and international levels.

The countries should accelerate the completion of the second-phase negotiations on the free-trade agreement the two countries signed in 2015.

There have been “positive” and “definite” talks in this direction with both the UK and the EU, which are eager to resolve immediate trade and investment-related issues while working towards comprehensive FTAs, two officials said, requesting anonymity.

The Ministry of Plantation Industries and Commodities (KPPK) is making efforts to boost the country’s pepper production following rise in demand at both local and international levels.

Malaysia, for instance, is expecting its budget deficit to rise to around 4.7pc of its gross domestic product this year due to falling revenue as well as rising expenditure to support the economy through various stimulus packages.

Sabah has set up an initiative to ensure the palm oil sector remains the state's key economic driver while also working towards conservation and sustainability.

Malaysia will discuss with Indonesia to formulate the best strategy to protect the oil palm industry of both countries in the near future, said Minister of Plantation Industries and Commodities Datuk Dr Mohd Khairuddin Aman Razali.

The Palm Oil Refiners Association of Malaysia (Poram) is offering to help the government combat the anti-palm-oil campaign currently waged by members of the European Union (EU) and Australia.

The Malaysian Palm Oil Board (MPOB) has recently obtained the Department of Standards Malaysia’s recognition under the Laboratory Accreditation Scheme of Malaysia (SAMM).