PETALING JAYA: For the first time in the history of the palm oil industry, the price of Crude Palm Oil (CPO) hit an all-time-high of RM5,750 per tonne for two consecutive days on Feb 3 & 4, bringing great news and huge profits to about 400,000 smallholders nationwide, said Datuk Zuraida Kamaruddin.
The Plantation Industries and Commodities (MPIC) Minister said this increase is a testament to the commitment and dedication of the Ministry MPIC through the Malaysian Palm Oil Board (MPOB) and Malaysian Palm Oil Council (MPOC), together with the Malaysian Palm Oil Certification Council (MPOCC) to help the rakyat through various initiatives and Government policies.
“MPIC will continue to strive to expand the Malaysian palm oil market to overseas markets, especially in West Asia such as in Turkey and Saudi Arabia, given the increase in Malaysian palm oil exports to Turkey with a total 703,588 tonnes in 2021 and Saudi Arabia’s commitment to increase Malaysian palm oil imports to 500,000 tonnes which is estimated to reach RM1.5 billion in value, this yea,“ she said in a statement today.
She also called upon all Malaysians to come together in solidarity with MPIC in an effort to address anti-palm oil propaganda by Western countries “that is clearly aimed at bringing down the country’s palm oil industry”.
“We need to make sure the country’s palm oil industry continues to be one of the largest contributors to the national economy,” she said.
