New Straits Times (06/03/2018) - KUALA LUMPUR: Malaysia has set up a palm oil war room (POWR) to better coordinate efforts among government agencies to dismantle global barriers to palm oil trade, said Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong.

“We’ve set up the POWR across relevant government agencies to better coordinate Malaysia’s efforts in dismantling global trade barriers against palm oil trade,” he told reporters at an industry gathering here today.

He explained that the war room, headed by the ministry’s secretary general Datuk K. Yogeesvaran, is monitoring and cooperating with Ministry of Foreign Affairs (MOFA), Ministry of International Trade and Industry (MITI) and the Ministry of Natural Resources and Environment (NRE) and implementing measures put forward by stakeholders in the private sector and smallholder associations.

POWR was set up in the face of mounting barriers to palm oil trade.

India, at the start of the month, raised import tax on crude palm oil to 44 per cent from 30 per cent and lifted the tax on refined palm oil to 54 per cent from 40 per cent.

Two months ago, the EU Parliament voted for the Renewal Energy Directive II to ban usage of palm biodiesel from January 2021.

“We view these as protectionism for their homegrown oilseeds which is unfair and discriminatory towards palm oil trade. This is unacceptable, we are responding with might and tact,” the minister said.

“We will press on with our negotiations with India and the EU,” he added.

Last year, Mah said Malaysia’s palm oil exports amounted to RM77.8 billion.

He is optimistic that the demand for palm oil and its pricing would remain firm.

“I think our palm oil output should be able to touch 20.5 million tonnes, this year. I hope, with more concerted marketing efforts, this year's export would top RM80 billion,” he said.

The 29th Palm and Lauric Oils Price Outlook Conference and Exhibition (POC2018), held from March 5th to 7th here, has attracted more than 2,000 vegetable oils traders from over 50 countries.

Organised by Bursa Malaysia, this year’s conference is themed “Price Disruption – Take Control, Manage Volatility”.

Read more at https://www.nst.com.my/business/2018/03/341942/malaysia-set-palm-oil-war-room