|
|
This site
is mobile
responsive
Palm Oil Products
Palm oil remains the predominant global vegetable oil, accounting for over 35% of total production. Despite persistent global challenges, crude palm oil (CPO) prices have demonstrated sustained resilience, averaging above RM5,000 per tonne throughout 2022, approximately RM3,800 per tonne in 2023, and rising to around RM4,200 per tonne in 2024. In the first quarter of 2025, prices have further strengthened, ranging between RM4,250 and RM4,550 per tonne. This ongoing performance underscores both international acceptance and the success of the Government’s long-term initiatives aimed at sustainability and countering negative campaigns. Continued high CPO prices have incentivized Malaysian palm oil plantations to further invest in R&D, specifically targeting precision agriculture, genomic technologies, breeding programmes, and mechanisation to improve CPO yields per hectare.
In the midstream, improved milling processes reduce environmental impact. Palm oil’s versatility and nutritional value make it a valuable contributor to global food security. Amidst recovery in the tourism and hospitality sector, demand for refined palm oil products is expected to rise, along with concerns stemming from the Russia-Ukraine conflict leading to a shortage of alternative vegetable oils. Malaysia’s commitment to value-added palm oil products and incorporating palm-oil-based phytonutrients in food items opens new segments in global food security.
For more statistics, please click here.
As one of the world’s second largest producers and exporters of palm oil, the Malaysian oil palm industry is the pride of the country. Over the past 50 years, the industry has grown by leaps and bounds to provide socioeconomic prosperity and political stability to the nation while feeding billions of people worldwide through exports of its palm oil and downstream products. Today, the industry has not only improved the living standards of small farmers, but also provided employment to close to three million people through various palm oil-linked economic activities. MIDA is dedicated to sustainable industry growth and engage in awareness programmes to manufacture high quality palm oil products.
Malaysia promotes sustainable practices aligned with the UN’s SDGs. This involves integrating a circular economy in the palm oil industry to optimise material use and minimise waste. Encouraging reduction, reuse, and recycling of underutilised materials addresses environmental challenges and raw material supply concerns.
Automation Capital Allowance (ACA) is a tax incentive introduced in Budget 2015 to encourage manufacturers to engage in innovative and productive activities, expedite the adoption of automation, especially for labour-intensive industries, and further spur automation initiatives.
