Malaysia looking for new markets for palm oil after EU threat
24-Oct-2024 01:55 PM
Kuala Lumpur. In view of the severe criticism of Western countries on the rapidly declining population of Orana Gutans, Malayan tiger and elephant, Malaysia is now trying to increase palm oil trade with other Asian countries and African nations including India.
Malaysia's Plantation Ministry and Malaysian Palm Oil Council (Empoc) have said that oil palm cultivation has increased the income of small farmers and the government is committed to protecting the country's biodiversity.
According to the Plantation Minister, the palm oil industry and trade sector are facing numerous challenges, which not only include domestic challenges but also external obstacles.
But the Malaysian government is committed to turning these challenges into opportunities to ensure sustainable development of the palm oil sector.
In fact, the European Union is planning to implement the Decorestation Regulation on 30 December 2025, under which Malaysia will be the focus. So that sustainable agricultural methods can be ensured there.
The European Union believes that forests are being cleared for the development and expansion of palm plantations in Malaysia, due to which the habitat of wildlife is shrinking and its number is decreasing.
Apart from this, palm plantations are being planted on agricultural land, which is affecting the livelihood of farmers. Steps need to be taken against this.
The European Union is planning to control or ban the import of palm oil produced in these new plantations and the regulation to be implemented on 30 December 2025 is a part of the same process or plan.
According to official figures, the number of Malayan tigers was around 3000 in the nineties, which decreased to less than 150 in the year 2020.
The number of elephants has also decreased to around 2000. The population of Oran Gutan is said to be between 11 to 15 thousand.
The European Union is a major buyer of Malaysian palm oil and if its exports there are restricted or stopped then Malaysia could suffer a setback so it is looking for new markets.