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Malaysia to limit Indonesia palm oil imports

Malaysia is planning plans to limit Indonesian palm oil imports to curb rising domestic inventory.

Malaysia's Plantation Industries and Commodities Minister Datuk Amar Douglas Uggah Embas says the country intends to control the import volume of palm oil from Indonesia instead of banning the product.

‘If we don't do anything now, it is expected that palm oil inventory would exceed 3 million tonnes by November. And I would not use the word “ban”, we are just minimising the import volume,’ Uggah says.

The Malaysian government hopes to reduce the country’s palm oil inventory to below two million tonnes.

The inventory for August this year was higher at 2.49 million tonnes versus 2.27 million tonnes in July.

Besides import control, the B10 biodiesel programme would help increase palm oil consumption as well, but the target dates for the programme have not been released.

‘We will be presenting the B10 biodiesel proposal in the upcoming Cabinet meeting and continue to engage with industry players on this matter,’ Uggah says.





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