Strategic Collaboration Strengthens Palm Oil-Producing Countries' Role in the Global Market

INTI,- Kuala Lumpur, Malaysia - In an effort to address challenges arising from palm oil-importing nations, the Council of Palm Oil Producing Countries (CPOPC) held its 11th Ministerial Meeting on Wednesday (May 17). The meeting, led by Malaysia's Deputy Prime Minister and Minister of Plantation Industries and Commodities, Dato’ Sri Haji Fadillah bin Haji Yusof, was attended by Indonesia's Coordinating Minister for Economic Affairs, Airlangga Hartarto. Meanwhile, the Minister of Agriculture and Livestock of Honduras, Laura Suazo Torres, participated virtually.

"I appreciate the 11th CPOPC Ministerial Meeting held in Kuala Lumpur. Many important issues were discussed, including the adoption of Honduras as a new member of CPOPC. This is historic because we will soon have Papua New Guinea joining as a member," stated Minister Airlangga during a press conference with local media representatives.

The ministers remained optimistic that palm oil production, demand, and prices would continue to grow positively in 2023, with the palm oil industry playing a crucial role in ensuring global food security.

"Despite numerous challenges facing the industry and its products, both in Europe, India, and some other countries, we appreciate the joint visit conducted by CPOPC between Indonesia and Malaysia to the European Union at the end of this month," added Minister Airlangga.

Considering the latest developments in the European Union (EU), particularly the EU Deforestation Regulation (EUDR), which may have a negative impact on the palm oil industry and exclude small-scale farmers from the supply chain, CPOPC will organize a Joint Mission for palm oil-producing countries to Brussels, Belgium, on May 30-31, 2023. The joint mission will also engage with key players in the palm oil industry and civil society organizations in the EU. The ministers are optimistic that the joint mission to the EU will yield positive outcomes.

"We are optimistic that with the increasing number of CPOPC members, we can improve the welfare of communities in each member country. Furthermore, we emphasize that smallholders or nano farmers are the backbone of the palm oil industry. As a strategic commodity, palm oil has proven to be an alternative solution for food security, given the current geopolitical situation in Europe resulting from the Ukraine-Russia conflict," stated Minister Airlangga.

The Ministerial Meeting also reaffirmed the belief that palm oil will remain an essential feedstock for biodiesel production, ensuring global energy security in the long run. Despite uncertainties regarding the availability and supply of major vegetable oils this year, palm oil still has the potential to grow due to its availability, versatility, and competitive pricing.

"Palm oil is not only important for CPOPC member countries but also for the world," concluded Minister Airlangga.

The Ministerial Meeting was also attended by representatives from Colombia, Ghana, and Papua New Guinea as Observing Countries, as well as Nigeria as a Guest Country. These four nations expressed their support for the CPOPC's strategies and priorities aimed at supporting industrial development and addressing global challenges such as food security and renewable energy.

Accompanying Minister Airlangga at the event were officials from the Coordinating Ministry for Economic Affairs, the Secretary-General of CPOPC, the CEO of BPDPKS, and the Chairman of GAPKI. ***. Hans