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Crude Palm Oil Report - 19 June 2017

  • i2Matrix
  • 19 June 2017
Malaysian palm oil to be sustainably produced by 2019, assures Mah
 
KUALA LUMPUR: All Malaysian palm oil will be produced in a sustainable manner by end of 2019, Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong said today.
 
"European Parliament has a declaration that they will only use palm oil from sustainable sources.
 
"By the end of 2019, all palm oil from Malaysia will be produced in a sustainable manner," Mah said after chairing Gerakan central committee meeting at the party's headquarters here today.
 
The Gerakan president who had a two-day visit to the European Union (EU) a fortnight ago revealed that the Malaysian palm oil campaign have been facing obstacles due to lies and distortion of facts.
 
However, he expressed delight with the European Court of Appeal which ruled in favour of Malaysia. "They (EU members) were told lies that there were deforestation and that orang utans were being killed. In Italy, there are 1,600 products with no oil palm logo.
 
"But on June 2, the courts ruled that the no oil palm logo was discriminatory since there is no proof that it is a health hazard."
 
"Europe is the biggest importer of Malaysian palm oil. Last year, they imported palm oil worth RM10 billion."
 
Mah also said that six Malaysian Members of Parliament would be sent to Europe to promote and campaign for Malaysian palm oil.
 
-- NST

 

 

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Founder of i2Matrix. A market strategist, private trader and sought-after financial speaker and trainer in the Asian Region, Benny Lee has coached hundreds of professional and retails traders and investors in Malaysia, Singapore, Hong Kong, Thailand, Vietnam, Pakistan for more than 13 years. His passion in trading and chart analysis leads him to develop trading strategies that have helped him and many others to trade and invest successfully in the financial markets.

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Benny Lee's interview with Bloomberg Malaysia