Govt exploring new palm oil markets amid geopolitical conflicts
The Plantation and Commodities Minister said the ongoing Israel-Iran crisis and the Russia-Ukraine conflict have disrupted export shipments to certain zones.
'Malaysia currently exports goods worth RM186bil annually to global markets, including palm oil, but part of these markets are now considered high-risk due to armed conflicts.
'As such, we are exploring new markets, namely countries that have yet to purchase Malaysian palm oil or cooking oil. This is crucial to ensure that our export levels remain stable,' he said.
Johari added that Malaysia is currently trading with nearly 80 nations, with plans to expand its reach even further.
The minister was speaking to reporters after attending the Dialogue with the Ministry programme at Mara Poly-Tech College here yesterday.
He also urged plantation operators and smallholders to work closely with the government to ensure the resilience of the national commodities sector on the global stage, reported Bernama.
Johari noted that planters and operators must work with the government to address challenges at the international level.
'The European market is increasingly emphasising environmental sustainability and biodiversity-friendly practices in palm oil procurement.
'To enter their markets, we must prove that our plantations meet their standards, comply with sustainability principles and preserve biodiversity,' he said.
Johari added that providing good service and meeting buyer requirements should be a priority to help turn new buyers into long-term customers.
'We are asking them to buy more from us, but the service we provide is just as important,' he said.
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