MIRI: The federal government through the Ministry of Plantation and Commodities recognises the important role of the palm oil industry in the post-pandemic recovery, especially as the second largest producer of palm oil in the world.
Deputy Prime Minister Datuk Seri Fadillah Yusof said palm oil is an important pillar in Malaysia’s agro-based industry that provides job opportunities, contributes to the nation’s domestic production and promotes economic growth.
“The Malaysian economy grew by 5.5 per cent in the first quarter of 2023 and the palm oil industry also grew by 5 per cent from RM9.5 billion in the first quarter of 2022 to RM10 billion in the first quarter of 2023,” he said.
He said this at the opening ceremony of the Palm Oil Manufacturing Technology Exhibition and Conference (POMTec) here on Tuesday (Aug 8).
“Therefore, I call on palm oil processing companies to adopt environmentally friendly processes that help reduce waste and increase energy efficiency so that palm oil production operations can help protect the environment and at the same time maximise profits.
“In addition, innovative methods also need to be explored to add value to the palm oil production chain as well as maximise the potential of the oil industry by diversifying by-products to generate surplus income.
Fadillah said the formulation of the National Agricultural Product Policy 2021-2030 (DAKN 2030) is evidence of his ministry’s strategic approach in transforming the agricultural products industry into a sustainable industry that drives the environment.
He said the initiative under the framework is in line with POMTec’s objective which will further increase sustainability and added value in the palm oil industry and meet current global demand.
Also present were Minister of Food Industry, Commodity and Regional Development Datuk Seri Dr Stephen Rundi Utom, Deputy Health Minister Lukanisman Awang Sauni, Deputy Secretary General (Agriculture and Commodities) Datuk Zailani Hashim, Chairman of the Sarawak Oil Palm Plantation Owners Association Eric Kiu Kwong Seng and Chairman of the POMtec 2023 Committee Tian Foon Howe.
