KUALA LUMPUR, March 5 — Malaysia does not plan to retaliate against the proposed move to ban palm oil into Europe by boycotting European-made products, says Primary Industries Minister Teresa Kok Suh Sim.
“At the moment, we do not have any idea to boycott any product from any country yet.
“But, we are trying to argue out the banning issue,” she told reporters on the sidelines of the 30th Annual Palm and Lauric Oils Conference and Exhibition, Price Outlook 2019/2020 (POC 2019) here today.
Kok said the ministry has dispatched a team to Brussels, Belgium, to formally present the country’s position to the European Commission.
“I hope they can consider our country’s position,” she added.
The three-day POC 2019, themed ’Managed Uncertainties, Harvest Global Opportunities’, is organised by Bursa Malaysia Derivatives (BMD) Bhd and attended by prominent local and international industry experts who would share their analysis and assessment on the development and challenges that would impact the price outlook for palm and lauric oils in 2019.
BMD operates the world benchmark for crude palm oil futures. — Bernama