MPOB formulating strategies to increase palm oil exports to Iran

KUALA LUMPUR (Bernama) – The Malaysian Palm Oil Board (MPOB) will formulate strategies to restore palm oil exports to Iran which has shown a decline currently following the COVID-19 pandemic.

Chairman Datuk Ahmad Jazlan Yaakub said the COVID-19 pandemic had also significantly impacted the local industry whereby the trade value and palm exports to that country had contracted.

He said the strategies which contained several proposals would be presented to the Plantation Industries and Commodities Minister in an effort to increase the export value to Iran.

“In 2019, Malaysia exported 575,127 tonnes of palm-based products worth RM1.368 billion to Iran, comprising palm oil amounting to 521,669 tonnes, palm kernel oil (26,924 tonnes), oleochemical (11,600 tonnes), and palm-based finished products (14,934 tonnes).

“For the period from January to June 2020, exports totalled 74,084 tonnes, down 73.5 per cent from the same period in 2019,” he said in a statement released after the courtesy visit by Iranian Ambassador to Malaysia Ali Asghar Mohammadi to the MPOB Office yesterday.

Ahmad Jazlan said both parties also stressed on the strategies and mechanism to increase exports to Iran, which would indirectly help the oil palm smallholders and industry players in Malaysia. Apart from that, with the exemption of export duty announced by Prime Minister Tan Sri Muhyiddin Yassin, the trade value definitely could be further increased from time to time.

The duty exemption is also a good step by the government to help the people directly involved in the oil palm industry in the country.

Palm tree plantation in Kuching, Malaysia