MARKET DEVELOPMENT
MPIC looking for viable response on US palm oil ban
MPIC looking for viable response on US palm oil ban
The Malaysian Reserve (22/10/2020) - Plantation Industries and Commodities Ministry (MPIC) is looking for a viable response to address the US’ ban on palm oil imports produced by FGV Holdings Bhd (FGV).
MPIC minister Datuk Dr Mohd Khairuddin Aman Razali said the planter had approached the ministry to explain the current situation including on the allegations of forced labour practices.
The ministry believes there should be a fairer medium for Malaysia and the US to discuss the allegation on forced labour of which could jeopardise the trades between the two countries,” he said in a statement today.
Mohd Khairuddin said the matter requires sensible approach as the US remains as one of Malaysia’s important contributors in the agricultural commodity segment with RM14.10 billion worth of export value between January and August 2020.
MPIC also urged local palm oil producers to continue looking for new market exports to widen its consumers, particularly in the African region.