KUALA LUMPUR – The Malaysian palm oil industry generated about RM72.8 billion through exports last year, the Plantation Industries and Commodities Ministry said.
Its minister, Datuk Mohd Khairuddin Aman Razali, said this amount was much higher (14.18%) compared with RM63.73 billion recorded in 2019, and the highest since 2017 (RM77.9 billion).
“The status of the palm oil industry as one of the four biggest contributors to the Malaysian economy for the last 15 to 18 years proves that the palm oil industry is important to developing countries like Malaysia,” he said in his speech during the “Palm oil is God’s gift” campaign held virtually today.
He said the palm oil industry also plays an important role in helping the country’s economy amid the pandemic.
Khairuddin noted that soap and detergent, the consumption of which has grown exponentially due to the public health crisis, are made from palm oil.
“The basic ingredients in alcohol-based hand sanitisers, that are widely used to eliminate the virus, can also be produced with palm oil.
“Indirectly, the use of palm oil has opened up business opportunities for pharmaceutical entrepreneurs in this challenging time,” he said, adding that today, about 450,000 smallholders and their families depend on the commodity for their livelihood.
Meanwhile, during the “Palm oil is God’s gift” campaign today, the ministry also announced that a website, www.sawit.com.my, has been developed for the public to get information on Malaysian palm oil.
This campaign is aimed at creating awareness and instilling a sense of pride and appreciation for the immense contribution of palm oil to the country over the years.
Led by the Malaysian Palm Oil Council, the campaign will focus on the role of palm oil in socio-economic development, nutrition, health and pharmacy, environmental conservation, as well as the food and non-food industries. – Bernama, February 11, 2021
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