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Trade News

Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.


Indonesia, Malaysia to formulate new palm oil standards

Monday, November 09, 2015 > 11:48:28

(Antara News)

Indonesia and Malaysia are currently in the process of achieving harmonization in palm oil standards as part of an agreement to set up a Council of Palm Oil Producing Countries (CPOP).

The Indonesian delegation, represented by the Coordinating Minister for Maritime Affairs Rizal Ramli, held a meeting with the Deputy Secretary-General (Commodity) of the Ministry of Plantation Industry and Commodities, Datuk M Nagarajan, here on Friday.

"There is a deal to formulate new palm oil standards. Indonesia and Malaysia have different standards, but now, the two countries are formulating new palm oil standards," Rizal Ramli said here on Friday.

In addition, the two countries have also urged oil palm farmers to further develop their skills.

"Therefore, the agreement on new standards will focus on being environment-friendly and ensuring sustainability," he said.

The treaty, he noted, will also add value because it will support small farmers in Indonesia and Malaysia.

Furthermore, the minister said the agreement will be discussed in the ASEAN Summit in Kuala Lumpur, Malaysia.

Following that, the covenant will be discussed again at the APEC conference in Manila, Philippines.

The minister pointed out that Indonesia and Malaysia have agreed to set up a Council of Palm Oil Producing Countries to ensure price stability and develop the downstream industry.

"It will be delivered in a meeting on climate change in Paris, France," he said.

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