DARE Commends Malaysia’s Progress Towards EU Recognising MSPO
Kuala Lumpur, 13 March 2024 – In a recent announcement, Deputy Prime Minister, Datuk Seri Fadillah Yusof announced that Malaysia is on a positive trajectory to secure recognition from the European Union (EU) for its Malaysian Sustainable Palm Oil (MSPO) certification scheme. EU acknowledgment is expected to come by June this year, marking a crucial move forward in validating Malaysia’s commitment to sustainable palm oil practices.
Pankaj Kumar, Managing Director of DARE commented on the EU’s potential recognition of MSPO, stating that it will prevent the marginalisation of smallholders, with locally produced commodity products exempted from additional audits.
Pankaj Kumar from DARE’s statement
Pankaj said: “Recognition of the MSPO as a credible certification scheme not only ensures the inclusion of smallholders, but it also opens doors for locally produced commodities to be showcased on a broader international stage. It has the potential to bolster our Malaysian economy by expanding market reach and promoting sustainable practices.”
For decades, palm oil has been a cornerstone of economic growth, contributing significantly to the GDP of producing countries and providing employment opportunities across the value chain.
Pankaj added: “Palm oil’s versatility and efficiency in production have established it as a crucial element in a wide range of sectors, from biofuels and industrial manufacturing to cosmetics and beyond. Embracing sustainable practices in palm oil production is not just an environmental imperative but a strategic economic move as well.”
He continued: “This potential recognition positions the Malaysian palm oil industry to meet global demands more effectively while promoting economic resilience and ensuring equitable distribution of benefits. This approach demonstrates that, with proper regulation and sustainable practices, we can address critical issues like the deterioration of agricultural lands while bolstering economic stability and growth.”
DARE remains optimistic about the positive impact of these developments, anticipating that the EU’s recognition of MSPO will not only elevate Malaysia’s standing in the global palm oil industry but also foster economic growth and sustainability.
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