A mandatory sustainability certification scheme for the oil palm industry; Malaysian Sustainable Palm Oil (MSPO) will undoubtedly help Malaysia to protect its forests over the coming years. Recently, sustainability has gained considerable attention as a result of efforts to integrate it into the palm oil industry’s business strategy.
Why is Malaysia the world’s second largest producer and exporter of palm oil?
Malaysia¡¯s position as the world¡¯s second largest producer and exporter of palm oil after Indonesia attests to the economic importance of palm oil to the country. This article aims to provide a comprehensive review of the Malaysian palm oil industry, highlighting its potential applications in various fields of study.
Why is palm oil important to Malaysia?
Palm oil plantations have rapidly developed over the past five decades in nations with tropical climates due to high demand for the product. Malaysia¡¯s position as the world¡¯s second largest producer and exporter of palm oil after Indonesia attests to the economic importance of palm oil to the country.
Where does Malaysia’s oil palm industry come from?
That¡¯s less than half the supply from top producer Indonesia, where output has expanded steadily in recent years. The association represents over 40% of the oil palm area in Malaysia. Members include some of the top plantation companies such as Sime Darby Plantation Bhd, Kuala Lumpur Kepong Bhd, IOI Corp. and FGV Holdings Bhd.