KUALA LUMPUR: The Ministry of Plantation and Commodities (KPK) and related agencies will continue to enhance the export of palm oil downstream products and its derivatives.
Deputy Prime Minister Datuk Seri Fadillah Yusof (pix) who is also Plantation and Commodities Minister said the ministry has developed an advanced zero-waste policy, whereby huge amounts of waste, including palm kernel shell and mesocarp fibre from the oil palm fresh fruit bunch, empty fruit branches and other materials are fully utilised.
“Palm oil has been a key pillar of the Malaysian economy as it not only brings high value export earnings but also provides direct employment to more than 650,000 people including about 450,000 smallholders,” he said in his speech at the Gamalux group of companies business dinner 2023 today.
He also said that KPK has implemented all key initiatives with the vision of advancing the Malaysian agricommodity sector to realise shared prosperity and sustainable development throughout the value chain.
Fadillah said palm oil is one of Malaysia’s primary industries and the biggest export income contributor from the agriculture sector in Malaysia.
“In 2022, the total value of palm oil and palm products exports stood at RM130 billion (US$29.8 billion), or 8.4 per cent of Malaysia’s total export value,” he added. -Bernama