Malaysia Aligns Palm Oil Industry with EU's Deforestation Standards

Malaysia plans to keep its palm oil industry competitive while adhering to sustainability norms as the EU's anti-deforestation law approaches. By adopting green practices, Malaysia hopes to maintain market access and foster industry growth while addressing environmental concerns.

Malaysia pledges to balance sustainability with competitiveness in its palm oil sector ahead of the EU's impending anti-deforestation law enforcement. The regulation, effective December 30, aims to prevent imports of products like palm oil associated with forest destruction.

Deputy Plantation and Commodities Minister Chan Foong Hin emphasized the need for Malaysia to adapt to the EU standards to sustain market access. Speaking at an industry conference, Chan highlighted that aligning operations with these standards would enhance Malaysia's market position.

Malaysia is adopting green initiatives to safeguard the environment and boost growth opportunities, as stated by Chan and reaffirmed by Malaysian Palm Oil Board director-general Ahmad Parveez Ghulam Kadir. The industry is preparing for a positive outlook by 2025 with new collaborations addressing both environmental concerns and economic stability.

(With inputs from agencies.)