Borneo Post Online (22/11/2018) - MIRI: Malaysia Palm Oil Board (MPOB) director Senator Alan Ling Sie Kiong is optimistic that the crude palm oil (CPO) price will go up next year as this commodity swings upwards in the world market.

“Commodities are like share market, there are bound to be up and down and affected by factors associated with market forces especially when it involves global market,” Ling said this in response to the anxiety of oil palm smallholders who had been affected by the low prices of their fresh fruit bunch (FFB) and the jittery industry in Malaysia.

In order to create long term competitiveness in the global market, Ling said the government is pursuing to ‘brand’ the nation’s palm oil to be certified as sustainable so that we are able to compete with country like Indonesia in terms of quality.

“The registration of MSPO is therefore crucial so that by year 2020 we can achieve 100% certification of palm oil.”

The federal government has in 2019 budget has announced the allocation of RM30 million to subsidise small estate holders on such certification exercises.

Ling said he has been keeping in touch closely with the Minister of Primary Industries Teresa Kok who emphasised and wanted players in the industry to explore the possibility of planting other cash crops or do mixed crops in their estates in order to increase and diversified income when palm oil faces unavoidable challenges throughout certain cycle.

Ling also said the board will convene meeting on next Monday and are in the midst of coming out with  industry blue print to assist the players and being more proactive to develop the industry as palm oil is one of the major income for the country.

He also encouraged bigger scale owners to consider developing downstream product and to apply incentives from Malaysia Industrial Development Authority (Mida).

“I share the predicament of many oil palm owners at the current difficult time, but I am optimistic that the bright day will come soon for all.”

He also assured planters of the federal government’s commitment to increase the purchase from big economy powers especially China and the efforts to combat anti palm oil campaigns in the European countries.