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10th March, 2010
KUALA LUMPUR: Malaysia is confident of exceeding the total palm oil export figure of RM50 billion registered last year. This follows a strengthening of the crude palm oil (CPO) price and a forecast increase in production for this year.
In 2009, the export of palm oil products was valued at RM49.59 billion, a contraction of 24 per cent compared to the RM65.2 billion in 2008 resulting from a lower CPO price of RM2,244.50 compared to RM2,856.50 previously.
“The price is better this year and we are certainly going to exceed the 2009 figure. As for surpassing the 2008 figure, we will work on that,” said Minister of Plantation Industries and Commodities, Tan Sri Bernard Dompok here yesterday.
He told reporters this at a press conference after opening the Palm and Lauric Oils Conference & Exhibition: Price Outlook 2010/2011, yesterday.
“With Malaysian palm oil production, projected to recover and reach 18.1 million tonnes this year in line with growing demand for palm oil products, we are foreseeing a resilient trend,” he explained.
In terms of quantity, the export of Malaysian palm products comprising palm oil, palm oil kernel, palm kernel cake, oleochemicals, biodiesel and finished products, registered growth of 2.9 per cent to 22.40 million tonnes in 2009 from the 21.76 million tonnes recorded previously.
Malaysian palm oil is currently exported to more than 150 countries globally.
According to Dompok, the Government will continue to place emphasis and priority on confronting the constraints within the palm oil industry.
The palm oil industry in Malaysia is currently faced with a number of constraints, including labour shortages, limited suitable land and more importantly, demands from global markets for sustainably produced palm oil.
Speaking on the availability of land, he said there is no need to cap plantations, as not much land is available for the palm oil industry anyway.
Oil palm cultivation in Malaysia occupies close to 4.67 million hectares and provides employment to more than one million people.
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