Teresa Kok to visit Europe again in November to persuade the latter from imposing ban against palm oil
PUTRAJAYA, Malaysia (Sin Chew Daily/ANN) - Primary Industries Minister Teresa Kok is expected to visit Europe again in November to persuade the latter from imposing ban against palm oil. Kok believes there is still opportunity for her to persuade Europe in her second trip to Europe this year.
Primary Industries Minister Teresa Kok is expected to visit Europe again in November to persuade the latter from imposing ban against palm oil.
She said prior to Europe shutting its door entirely, there is still opportunity for her to persuade Europe from discriminating palm oil, she said this at the Hari Raya celebration held by the ministry.
Kok said China has signed agreement with Malaysia to purchase 1.9 million tonnes of palm oil for next five years. In the past few months Malaysia has also signed various agreements related to palm oil. She believes the export volume of palm oil will be up again.
Kok said the total export of agricultural products from January to April this year reached RM5.27 billion (US$1.26 billion) and the balance of trade was RM2.77 billion. (US$662 million) The revenue of commodities is RM4.02 billion (US$961 million) which is 12.5 per cent of the total export.
The export of commodities slipped 7.5 per cent compared to the same period last year which recorded RM4.35 billion (US$ 1.04 billion), she said, mainly due to lower export volume of palm oil and rubber. Price of palm oil depreciated but export volume increased 4.6 % to 8.9 million tonnes.
“For the first quarter this year, agricultural products contributed to 6% or RM20.7 billion (US$4.95 billion) of gross domestic product,’’ she said.
Kok said she would announce the latest update on Malaysian Sustainable Palm Oil (MPSO) certification in a forum this Thursday.
Malaysia plans to implement MPSO in early 2020 to counter announcement by European Union to ban palm oil as biofuels in 2021 and stop buying palm oil without sustainability certification in 2020.