HomeAsiaMalaysia looks to meet global palm oil demand after Indonesia's export ban,...

Malaysia looks to meet global palm oil demand after Indonesia’s export ban, but labour shortage an issue

KUALA LUMPUR: The global demand for palm oil is probably going to swap to Malaysia after Indonesia’s export ban, but trade gamers warned that labour shortage may hamper output. 

Plantation Industries and Commodities Minister Zuraida Kamaruddin informed the media on Sunday (Apr 24) that Malaysia ought to have the option to improve its manufacturing of palm oil with the reopening of the nation’s borders.

“I am confident that Malaysia is ready and able to supply palm oil to global markets because our production is expected to rise following the reopening of its borders, which has enabled the hiring of foreign workers,” Mdm Zuraida was quoted as saying by Bernama.

In an announcement final Friday, Indonesian President Joko Widodo mentioned the exports of cooking oil and crude palm oil (CPO) can be suspended beginning this Thursday in a bid to stabilise costs within the nation.

“The government prohibits the exports of palm oil used in cooking oil,” mentioned Mr Widodo, who can also be popularly often known as Jokowi. 

In current months, cooking oil costs have soared in Indonesia amid an improve in global CPO costs, prompting the federal government to implement worth ceilings and export restrictions. 

In a separate occasion on Sunday, Deputy Plantation Industries and Commodities Minister Wee Jeck Seng mentioned the native palm oil manufacturing is at the moment being affected by the continued labour shortage issue, and subsequently it’s unlikely that Malaysia shall be in a position to fulfil the excessive export demand hole left by Indonesia.

“This imbalance in demand and provide would see costs of palm oil and different competing oils hovering,” he was quoted as saying by Bernama.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

//moksoxos.com/4/4783938