Latest news with #MSPO
See - Sada Elbalad
14 hours ago
- Business
- See - Sada Elbalad
Malaysia's Commitment to Sustainable Palm Oil Boosts Reputation in Egypt's Market
Mohamed Wadie Sustainability and reforestation significantly enhance the global reputation of Malaysian palm oil in the Egyptian market. Malaysia has made strong commitments to sustainable palm oil production, primarily through the Malaysian Sustainable Palm Oil (MSPO) certification, which covers over 96% of its palm oil production and aligns with international sustainability standards. This certification addresses key issues like deforestation-free policies, traceability, biodiversity protection, and ethical labor practices, which are critical for gaining trust in global markets including Egypt. Egypt is a major importer of palm oil, with palm oil accounting for about 67% of its edible oil market, valued at $1.3 billion in 2023. Malaysia supplies nearly 27% of Egypt's palm oil imports, making it a key trade partner. The Malaysian government and industry actively promote sustainable palm oil in Egypt through forums and collaboration with Egyptian officials, emphasizing the environmental and economic benefits of certified sustainable palm oil. Reforestation efforts by Malaysian palm oil companies further bolster this positive image. Large-scale projects restore degraded lands, enhance biodiversity, and create wildlife corridors to mitigate habitat fragmentation caused by plantations. These initiatives not only improve ecological resilience but also demonstrate Malaysia's commitment to environmental stewardship, which resonates well with Egyptian stakeholders concerned about sustainability and food security. Moreover, research from Oxford University highlights that sustainable palm oil is crucial for Egypt's food security, as replacing palm oil with less efficient oils would increase deforestation and food costs globally. Malaysia's sustainable palm oil practices thus align with Egypt's strategic interests, reinforcing Malaysia's reputation as a responsible supplier. In summary, Malaysia's sustainability certifications, reforestation projects, and proactive engagement with Egypt contribute positively to Malaysia's palm oil reputation in the Egyptian market. These efforts support environmental goals, food security, and bilateral trade relations, making Malaysian palm oil a preferred and trusted choice in Egypt. read more Analysis- Turkey Has 0 Regional Allies... Why? Analysis: Russia, Turkey... Libya in Return For Syria? Analysis: Who Will Gain Trump's Peace Plan Fruits? Analysis: Will Turkey's Erdogan Resort to Snap Election? Analysis: What Are Turkey's Aspirations in Iraq? Opinion & Analysis Analysis: Mercenaries In Libya... Who Should Be Blamed? Opinion & Analysis Analysis- How 'Libya Nightmare' Takes Erdogan to Algiers Opinion & Analysis Analysis: What Happens After Brexit? Opinion & Analysis Analysis: Strategic Significance of Libya's Sirte, Jufra! News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean
New Straits Times
4 days ago
- Business
- New Straits Times
Malaysia secures preferential market access for sustainable palm oil
KUALA LUMPUR: Malaysia has secured preferential market access and strong international recognition for its sustainable palm oil through the signing of the Malaysia-European Free Trade Association (Efta) Economic Partnership Agreement (Meepa). The agreement, signed on June 23, marks a significant milestone in Malaysia's trade relations with Efta member states, Switzerland, Norway, Iceland and Liechtenstein, and further strengthens bilateral cooperation on sustainability. According to Plantation and Commodities Ministry, under Meepa, Malaysian palm oil exporters will benefit from reduced import tariffs via a tariff rate quota mechanism, with reductions ranging from 20 to 40 per cent, depending on the product category. "Importantly, Malaysian Sustainable Palm Oil (MSPO) certification is a mandatory condition for exporters seeking to qualify for these reduced tariffs, placing the national sustainability standard at the heart of Malaysia's trade framework with Efta," it said in a statement. A joint statement on sustainable palm oil was also adopted as part of the agreement, recognising Malaysia's leadership in sustainable palm oil production and enhancing international confidence in MSPO-certified supply chains. The achievement was made possible through the collaborative efforts of the Investment, Trade and Industry Ministry and Plantation and Commodities Ministry. Meepa delivers three key outcomes, which include tariff reductions for MSPO-certified palm oil, international recognition of MSPO as Malaysia's official sustainability standard, and strengthened commitment to transparency, traceability, and deforestation-free supply chains. The agreement is seen as a boost to Malaysia's palm oil industry, enhancing its competitiveness in sustainability-conscious global markets while supporting smallholders and larger producers alike. Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani said the agreement serves as a key reference point for Malaysia in ongoing Free Trade Agreement (FTA) negotiations with the European Union (EU). "The Plantation and Commodities Ministry views this agreement as an important reference point for Malaysia's position in the ongoing Malaysia-EU Free Trade Agreement negotiations with the 27 EU member states," he said. "The Plantation and Commodities Ministry will continue to work closely with the Investment, Trade and Industry Ministry to ensure that Malaysia's sustainability leadership, through MSPO, is fully reflected and protected in all future trade agreements, including with the European Union," he said. Johari also reaffirmed Malaysia's commitment to advancing a globally responsible palm oil industry. "Malaysia remains fully committed to driving global progress in sustainable, responsible and deforestation-free palm oil trade, with MSPO at the centre of these efforts," he said.
The Star
20-06-2025
- Business
- The Star
MSPO-ASSC deal to drive demand for Malaysia's sustainable palm oil in Japan
PUTRAJAYA: The Malaysian Sustainable Palm Oil (MSPO), formerly the Malaysian Palm Oil Certification Council, has signed a memorandum of understanding with Japan's Global Alliance for Sustainable Supply Chain (ASSC) to boost demand and expand market access for MSPO-certified palm oil across Japan's premium industrial sectors. According to a statement from the Plantation and Commodities Ministry, the collaboration is significant in Malaysia's efforts to strengthen the global positioning of its sustainable palm oil industry. "This partnership is expected to unlock new opportunities in Japan's high-value industries and enhance Malaysia's presence in global sustainable supply chains,' the statement said. The partnership positions the MSPO at the centre of Japan's sustainable procurement ecosystem, providing Malaysian producers with direct access to buyers who prioritise responsible sourcing, the ministry said. Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani said: "This strategic partnership marks a significant milestone in Malaysia's efforts to champion sustainable palm oil on the global stage. It reflects growing international recognition of MSPO as a credible and inclusive certification that meets the highest environmental and social standards. "At its core, MSPO is not just about markets, it is about people. This collaboration opens up real opportunities for our smallholders, empowers our workers, and uplifts rural communities by ensuring that their palm oil can reach high-value, sustainability-conscious markets like Japan,' he said. The ministry said the partnership builds on the outcome of a comprehensive human rights impact assessment (HRIA) conducted in 2023 by Ajinomoto Co Inc and ASSC which validated the MSPO framework as robust, inclusive and well-aligned with international expectations, particularly in safeguarding smallholder livelihoods and protecting workers' rights. "ASSC will serve as a core knowledge and advocacy partner for MSPO in Japan, helping to build industry awareness, influence procurement decisions, and drive the adoption of certified sustainable palm oil in one of the world's most quality-conscious markets,' the statement said. - Bernama
New Straits Times
13-06-2025
- Business
- New Straits Times
Malaysia eyes Japan market with sustainable palm-based products under MSPO 2.0
KUALA LUMPUR: Malaysia aims to expand the reach of its downstream and value-added palm-based products to Japan, particularly specialty fats, tocotrienols, red palm oil, and palm biomass-based medium-density fibreboard for housing and furniture applications. In a statement today, the Ministry of Investment, Trade and Industry (MITI) said Malaysia is accelerating its position as a global leader in sustainable commodity certification through the implementation of Malaysian Sustainable Palm Oil (MSPO) 2.0, a strengthened standard under the MSPO certification scheme. Recently spotlighted at Expo 2025 Osaka during the Ministry of Plantation and Commodities' (KPK) promotional programme, MITI said MSPO 2.0 underscores Malaysia's commitment to positioning sustainable agriculture as a core pillar of future trade and economic diplomacy. KPK Minister Datuk Seri Johari Abdul Ghani said MSPO 2.0 represents Malaysia's firm declaration to the world that the country is serious about transforming its commodity sector in line with global sustainability standards. "We are embedding sustainability at every level, from smallholder farms to export shelves, and raising the integrity of our entire ecosystem. Not only that, we aim for the MSPO model to be replicated across all commodities," he added. During KPK Week at Expo 2025 Osaka, five strategic memoranda of understanding (MoUs) were signed across key commodity sectors — from palm-based biomass to sustainable pepper, kenaf innovation, and cacao exports — reflecting Malaysia's multi-sectoral push for sustainable, high-value commodity development. MITI added that Malaysia's export credibility received a further boost this week through a newly formalised collaboration between MSPO and AEON Japan, representing a clear step towards enhancing certified product visibility in consumer-facing retail, with MSPO-labelled palm-based products already gaining shelf presence. Meanwhile, MITI said the Malaysian Palm Oil Board (MPOB), a research and development as well as licensing agency under KPK, has also inked agreements and explored business opportunities for the oil palm agri-commodity sector at the expo to advance trade development in Japan and the wider Asian region. Currently, 86 per cent of Malaysia's palm oil cultivation is MSPO-certified, with the country targeting 95 per cent certification by the end of 2025. Under Budget 2025, RM50 million has been allocated to support MSPO implementation nationwide, including technical assistance, audit support, and traceability tools to help independent smallholders adapt more effectively. Malaysia's participation at Expo 2025 — led by MITI and involving MSPO alongside over 21 ministries and 70 agencies under a unified national narrative — will see the Malaysia Pavilion hosting forums, product showcases, business matching sessions, and MoU signings throughout the 26-week event, positioning the country as a future-ready trade and investment partner. To date, Malaysia has achieved 68 per cent of its RM13 billion target in trade and investment leads for Expo 2025.
Barnama
13-06-2025
- Business
- Barnama
Malaysia Eyes Japan Market With Sustainable Palm-based Products Under MSPO 2.0
REGION - CENTRAL > NEWS KUALA LUMPUR, June 13 (Bernama) -- Malaysia aims to expand the reach of its downstream and value-added palm-based products to Japan, particularly specialty fats, tocotrienols, red palm oil, and palm biomass-based medium-density fibreboard for housing and furniture applications. In a statement today, the Ministry of Investment, Trade and Industry (MITI) said Malaysia is accelerating its position as a global leader in sustainable commodity certification through the implementation of Malaysian Sustainable Palm Oil (MSPO) 2.0, a strengthened standard under the MSPO certification scheme. Recently spotlighted at Expo 2025 Osaka during the Ministry of Plantation and Commodities' (KPK) promotional programme, MITI said MSPO 2.0 underscores Malaysia's commitment to positioning sustainable agriculture as a core pillar of future trade and economic diplomacy. bootstrap slideshow KPK Minister Datuk Seri Johari Abdul Ghani said MSPO 2.0 represents Malaysia's firm declaration to the world that the country is serious about transforming its commodity sector in line with global sustainability standards. 'We are embedding sustainability at every level, from smallholder farms to export shelves, and raising the integrity of our entire ecosystem. Not only that, we aim for the MSPO model to be replicated across all commodities,' he added. During KPK Week at Expo 2025 Osaka, five strategic memoranda of understanding (MoUs) were signed across key commodity sectors — from palm-based biomass to sustainable pepper, kenaf innovation, and cacao exports — reflecting Malaysia's multi-sectoral push for sustainable, high-value commodity development. MITI added that Malaysia's export credibility received a further boost this week through a newly formalised collaboration between MSPO and AEON Japan, representing a clear step towards enhancing certified product visibility in consumer-facing retail, with MSPO-labelled palm-based products already gaining shelf presence. Meanwhile, MITI said the Malaysian Palm Oil Board (MPOB), a research and development as well as licensing agency under KPK, has also inked agreements and explored business opportunities for the oil palm agri-commodity sector at the expo to advance trade development in Japan and the wider Asian region. Currently, 86 per cent of Malaysia's palm oil cultivation is MSPO-certified, with the country targeting 95 per cent certification by the end of 2025.
