Campaign to promote Malaysian palm oil

by | Jan 9, 2022 | Business, LOCAL | 0 comments

The palm oil industry is the fourth largest contributor to the Malaysian economy and currently there is a drive to promote the golden crop with the ‘Malaysian Palm Oil Full of Goodness’ campaign to propagate the product’s healthfulness and versatility.

According to the Plantation Industries and Commodities Ministry, palm oil recorded a revenue increase of 40 percent – RM91.4 billion from RM65.3 billion – due to higher prices despite the decline in exports last year.

India retained its position as the No. 1 export destination for Malaysian palm oil with more than 3.2 million tons exported to the country.

Other countries to which palm oil is exported include China, the European Union, Turkey and Pakistan, among others. Malaysian palm oil is estimated to account for 24 percent of global palm oil production and 31 percent of world export in 2021.

There are still many areas of growth to explore in the Asia Pacific and sub-Saharan Africa markets. In the Philippines and Vietnam, for example, the food service industry is growing rapidly while South Korea is increasing its biofuels blending mandate.

Marketing and promotional efforts for global recognition of Malaysian Sustainable Palm OIl for 2022 will be based on the premise of ‘Malaysian Palm OIl Full of Goodness’, as Malaysia’s sustainability standard will be enhanced for regional acceptance, demand and support.