KUALA LUMPUR: Almost 100 per cent of palm oil estates and mills operating in the country have obtained the Malaysian Sustainable Palm Oil (MSPO) certification.
Prime Minister Datuk Seri Anwar Ibrahim said Malaysia strongly believes sustainable production is the way forward for the palm oil industry.
"Hence, we introduced the mandatory MSPO certification scheme in 2015, revising the standards with the 2022 MSPO (certification scheme) which focuses on transparency; safety and employment conditions; as well as environment, biodiversity and ecosystem protection.
"Malaysia takes pride as the world's second largest palm oil producer, accounting for 31 per cent of 87.39 million tonnes of palm oil produced globally last year," he said in his speech at the opening of the Malaysian Palm Oil Board (MPOB) International Palm Oil Congress and Exhibition 2023 (PIPOC 2023) today.
He said the overwhelming performance of the oil palm sector was also contributed by smallholders who accounted for 28 per cent of the total area for palm oil production.
Recognising their vital role, he said he announced the incentive for oil palm replanting programmes with an allocation of RM100 million under the 2024 Budget.
"I hope this incentive will enable smallholders to increase productivity by replanting old trees with new breeds, including clonal materials, with high yield potential of fresh fruit bunches."
