07.08.2018 (The Sun Daily) - PUTRAJAYA: The Primary Industries Ministry will continue to push into potential markets for Malaysian palm oil following the European Union's (EU) decision to end palm oil use for its transport sector by 2030.

Minister Teresa Kok said the Malaysian Palm Oil Council (MPOC) is currently engaging with the Philippines, Turkey, Iran and African countries.

"These new markets have huge potential and are yet to be tapped. Following the EU ban, Malaysia needs to explore and cushion itself by exporting to new markets," she told reporters after attending the Budget Consultation 2019 session here today,

Kok said India, China and European counties are the biggest traditional buyers of palm oil.

Last year, the European Parliament called for a total ban on palm oil usage in transportation from January 2021.

In addition, Kok also said the ministry is also finding ways to encourage people to consume palm oil domestically.

Yesterday, she was reported as saying that the export prospects for Malaysian palm oil in the second half of 2018 looked positive, as the ministry had set its eyes on wooing more buyers from China.

Earlier, about 180 participants including transport and petroleum industry players put forward 119 proposal papers for further discussions before announcing the target for the 2019 Budget.

"I can't reveal how much we are asking for as it is still subject to our discussions with the Finance Ministry. It is their decision in the end," she said without disclosing the proposed amount.

The four-hour consultation session, which began at 10am, aimed among others to revive the government's finances, generate sustainable growth and prosper the people with the focus on formulating the budget. — Bernama