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Malaysian Deputy Prime Minister Datuk Seri Fadillah Yusof said the growth of the palm oil sector in Indonesia, Latin America and Africa reflects unstoppable global momentum, driven by necessity, efficiency and sustainability.
Fadillah, who also serves as Minister of Energy Transition and Water Transformation, explained that demand is also rising in sub-Saharan Africa and across ASEAN member states.
He added that Malaysia, bolstered by the strength of the Malaysian Sustainable Palm Oil (MSPO) certification and full traceability, is well positioned to seize these opportunities.
Speaking in his keynote address at the Palm Oil International Conference and Exhibition (PIPOC 2025), organised by the Malaysian Palm Oil Board here today, he said: "Today, palm oil accounts for 30% of the world's oils and fats, making it the most widely used vegetable oil in the world."
He continued: "Malaysia proudly remains the second-largest producer, contributing 24% of global production in 2024 and 35% of global exports." The event was also attended by Minister of Plantation and Commodities Datuk Seri Johari Abdul Ghani.
Fadillah noted that Malaysia produced 19.34 million tonnes of palm oil in 2024 from just 5.6 million hectares, underscoring the country's world-class productivity as it continues to strengthen its sustainability standards.
He said: "In 2024, Malaysia exported 16.9 million tonnes of palm oil to key markets such as India, China, the European Union, Kenya, Turkey, Japan and the Philippines."
He added: "Despite a decline in export volume in early 2025, export value rose by 4.9% to reach 82.6 billion ringgit, reflecting strong market confidence."
Under the theme "Transforming Today, Empowering Tomorrow Through Innovation," PIPOC 2025 highlights the role of innovation and technology in driving a sustainable future for the palm oil sector.
Source: New Straits Times