Zuraida: Palm oil industry to maintain positive performance in 2022

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PUTRAJAYA: The palm oil industry, being the fourth largest contributor to the economic system, is predicted to maintain its 2021 performance in 2022 backed by numerous advertising and promotional efforts to be carried out by the Ministry of Plantation Industries and Commodities and its companies.

Minister Datuk Zuraida Kamaruddin mentioned she is optimistic that the industry would find a way to obtain its purpose with palm oil manufacturing probably reaching about 20 million tonnes.

“We nonetheless have the potential of assembly the quantity and we’d nonetheless find a way to cater for the worldwide vegetable oil market.

“And with the decrease provide amid excessive demand, we’ll nonetheless find a way to take pleasure in excessive crude palm oil (CPO) worth,” she instructed reporters on the Reach and Remind, Friends of the Industry Seminar 2022 and Dialogue organised by the Malaysian Palm Oil Council (MPOC) at this time.

She mentioned final yr’s successes and accomplishments have been accompanied by new challenges.

“Due to the worldwide shutdown of borders because of the COVID-19 outbreak, acquiring overseas labour has develop into troublesome,” she mentioned.

She mentioned palm oil manufacturing was severely impacted for the reason that plantation employee shortfall, estimated at 75,000, inflicting harvesting actions to be delayed and reducing the standard of the fruit bunches harvested.

The minister mentioned to overcome this drawback, the federal government has agreed to make use of 32,000 overseas employees with strict compliance with the outlined SOP.

She mentioned regardless of comparable obstacles that the industry may face this yr, industrial gamers are optimistic that they’d find a way to meet the manufacturing stage for this yr to cater for the present market like India and China in addition to supporting the federal government’s ambition to penetrate new markets.

Meanwhile, the minister mentioned 2022 would even be a yr for the ministry to strengthen its promotional efforts for the worldwide recognition of the Malaysian Sustainable Palm Oil (MSPO) as Malaysia’s sustainability commonplace.

“A 360-degree advertising and promotional programmes to guarantee visibility and understanding of MSPO will likely be undertaken, starting from engagements with key authorities officers, seminars and talks with commerce associations and the resort, restaurant and cafe (HORECA) sector in addition to roadshows and social media promoting for the overall shoppers.

“We see this as a long-term endeavour that can begin with our neighbouring nations and the ripple impact will lastly be seen on merchandise proudly carrying our MSPO brand, a sign that the sustainability commonplace has gained worldwide stature,” she mentioned.

Zuraida additionally mentioned that in May this yr, 4 new nations — Colombia, Ghana, Honduras and Papua New Guinea, would develop into full members of the Council of Palm Oil Producing Countries (CPOPC).

She mentioned the inclusion of the brand new members would undoubtedly bolster the organisation’s credibility and talent to pursue the pursuits of palm oil and voice out its stand towards the European Union’s unfair remedy of the palm oil industry.

“We hope that the CPOPC will emphasise the need of cooperation to obtain mutual aims and defend the industry towards recurring destructive perceptions and false claims in order to safeguard the pursuits of its member nations.

As of November 2021, the entire exports of Malaysian palm oil and its derivatives stood at 22.14 million tonnes and due to excessive palm oil costs, the entire income elevated by 40 per cent to RM91.4 billion in contrast with 2020.

India retained its place because the primary vacation spot for Malaysian palm oil export with 3.2 million tonnes. – Bernama



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