AGRICOMMODITY NEWS 2020

KUALA LUMPUR, Feb 15 -- More than 100 Malaysian food and beverage (F&B) companies will participate at the world’s largest F&B trade fairs, Gulfood, to be held in Dubai, United Arab Emirates (UAE) beginning from tomorrow until Feb 20.
The Malaysia External Trade Development Corporation (Matrade) said other public sector agencies including Malaysia Palm Oil Council, Majlis Amanah Rakyat, Department of Industrial Development and Research, Sabah and Federal Agricultural Marketing Authority would be joining the event.

KUALA LUMPUR, Feb 15 -- The Malaysian Palm Oil Board (MPOB) has inked a memorandum of understanding (MoU) with two organisations to accelerate Malaysia’s aspirations in regard to sustainable palm oil production.
In a statement, MPOB said the MoU was signed with a Netherlands-based organisation which promotes sustainable trade - IDH The Sustainable Trade Initiative titled Sustainable Climate Smart Palm Oil Production by Smallholders in Malaysia.

KUALA LUMPUR, Feb 14 (Bernama) -- I wish to refer to the Reuters report, 14 February 2020 titled, “Malaysia backs off from WTO suit against EU on palm oil”.

I wish to categorically state that at no time did I inform the media that Malaysia will back off from our plans to file the WTO complaint against the EU and its Delegated Regulation.

We continue to view the Delegated Regulation as a discredit to the Malaysian palm oil industry's commitment towards mandatory sustainability since it creates additional trade barriers and impedes our sustainability efforts throughout our palm oil supply chain.

KUALA LUMPUR: FGV Holdings Bhd has subscribed to new shares amounting to a 60 per cent stake in the enlarged share capital of RedAgri Farm Sdn Bhd for RM10 million.
FGV said the acquisition marked its entry into the dairy farming business and fresh milk processing, the first step towards becoming an integrated agrifood company.
The acquisition of RedAgri, which owns the Bright Cow brand of dairy products, enables FGV to create more value from its existing resources and to tap into synergies within the palm-based circular economy.
FGV group chief executive officer Datuk Haris Fadzilah Hassan said dairy farming is one of the identified pillars of the group’s integrated farming business.

KUALA LUMPUR: Teresa Kok has denied informing the media that Malaysia will back off from its plans to file the WTO complaint against the European Union (EU) and its Delegated Regulation.
Referring to a news report by Reuters today, the Primary Industries Minister said on the contrary, Malaysia has not retracted its option to file the WTO complaint.
"We continue to view the Delegated Regulation as a discredit to the Malaysian palm oil industry's commitment towards mandatory sustainability since it creates additional trade barriers and impedes our sustainability efforts throughout our palm oil supply chain," the minister said in a statement today.