Malaysian palm oil has been able to penetrate new global markets and this shows that the commodity has gained greater international acceptance amid the Ministry’s intense “Global Movement to Champion the Goodness of Palm Oil” campaign.
At least three countries that had never imported Malaysian palm oil in the past, namely Estonia, the Czech Republic, and Hungary, have started purchasing the commodity in recent months.
Between January and July this year, Estonia imported 2,501 tonnes of Malaysian palm oil worth RM20.22 million, the Czech Republic (95 tonnes worth RM0.88 million, and Hungary (853 tonnes worth RM6.73 million).
While the volume and value of the imports from these countries are not as those from our major importers like India and Turkiye, these inroads were significant developments. Having one foot in the door allows us to further grow the Malaysian palm oil market share there in the long-run.
MPIC is also targeting to export to more non-traditional countries, particularly in the EU, and also to expand our market share among our traditional palm oil importing nations.
This is done through:
i. Strengthening existing major export markets, particularly India, China, Pakistan, and the EU, as well as to promote palm oil products more aggressively to penetrate new markets such as in Africa and Central Asian regions;
ii. Enhance Research and Development (R&D) activities in the production of new products as well as add value to downstream commodity products and; iii. Enhancing better market access through bilateral free trade agreement (FTA) negotiations as well as multilateral or regional consultations
Feedback from many new markets show that they are impressed with Malaysian palm oil because of its higher productivity, versatility in food and non-food sectors and availability throughout the year.
MPIC will continue to leverage on these strengths. This indicates the success of our “Global Movement to Champion the Goodness of Palm Oil” campaign. Previously, many, particularly in the EU, did not know about the advantages of using Malaysian palm oil due to decades of sustained smear campaigns.
