Palm oil producers fear looming EU environment law will hurt exports
Kuala Lumpur — As concerns about palm oil’s sustainability simmer in Europe, the world’s second-biggest grower is ramping up its defence of the most-consumed edible oil. Malaysian Prime Minister Najib Razak and Indonesian President Joko Widodo will this week discuss concerns that a resolution passed by the EU in April calling for tougher environmental standards for palm oil may hurt the industry. The two countries are the world’s top palm oil producers, accounting for 85% of supply. "If such a resolution affects our exports, it will be a major blow," Mah Siew Keong, Malaysia’s plantation industries and commodities minister, said in an interview in Kuala Lumpur. "Any form of discrimination is not acceptable, and we will be compelled to act if it’s enforced to protect our own interest." The European Parliament’s non-binding resolution urged the bloc’s executive arm to step up efforts to prevent deforestation as a result of palm oil production. The expansion of plantations in the two c...
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