PUTRAJAYA, Jan 12 — Deputy Prime Minister and Plantation and Commodities Minister Datuk Seri Fadillah Yusof will leave for Indonesia by February to meet his counterpart and other...
PUTRAJAYA, Jan 12 — Deputy Prime Minister and Plantation and Commodities Minister Datuk Seri Fadillah Yusof will leave for Indonesia by February to meet his counterpart and other stakeholders to fight the anti-palm oil lobby.Fadillah’s impending visit is likely to be seen as a follow-up to Prime Minister Datuk Seri Anwar Ibrahim’s recent meeting with Indonesian President Joko Widodo. During that visit, both had agreed to work together to fight the “discrimination” against the commodity.
Fadillah said palm oil producing countries have to be more coordinated in their efforts in conveying their stand and stance on policy matters that affect their socio-economic wellbeing. The new legislation, he noted, is expected to become a trade barrier. The commodity is subject to due diligence which is anticipated to increase administrative and production costs.
EU may want to protect its own products by imposing various trade barriers as palm oil is a very competitive commodity vis-à-vis the other vegetable oils and the pervasively weaker Malaysian ringgit against the US dollar, he said.
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