European Union ‘open to palm oil’

The European market is open to palm oil and there is no ban on the commodity, said Ambassador and Head of European Union Delegation to Malaysia, Maria Castillo Fernandez.

Clarifying the stance of Europe on palm oil, she said there is a discussion in the region to reduce the use of biofuels in order to reach the European Union’s goal of achieving 32% renewable energy target by 2030.

She clarified that palm oil has not been singled out as this extends to all types of biofuels.

“There is no singling out on palm oil. It’s all crops (and) it’s on biodiesel that doesn’t mean you are banning anything but you will have to use less biodiesel coming from all the crops for your renewable energy target,” she explained.

On how this will come to play, she said that will depend on the adoption of the delegated act next year.

Europe is the second largest market for Malaysian produced palm oil.

Fernandez reiterated that Malaysia’s trade relations is not just limited to palm oil, as the EU is Malaysia’s third largest trading partner.