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Home Banking and Finance

Rising tensions between Asian palm oil producers and the European Union

by medhichembelkaid
January 13, 2023
in Banking and Finance
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Rising tensions between Asian palm oil producers and the European Union
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(Reuters) – Malaysia on Thursday mentioned it might cease exports to the European Union in response to a brand new regulation the EU says is geared toward defending forests by limiting palm oil imports.

The EU has lately imposed a number of guidelines to control palm imports after concluding its cultivation leads to extreme deforestation, elevating an outcry from high producers Indonesia and Malaysia.

Here’s a timeline of the rising tensions between the Asian palm oil producers and the EU over the matter.

APRIL 5, 2017

Malaysia raises its concern after EU lawmakers name for better vetting of palm and different vegetable oils utilized in biofuels to stop the bloc’s post-2020 renewable transport targets from contributing to deforestation.

JUNE 14, 2017

EU negotiators comply with part out using palm oil in transport fuels from 2030. Indonesia, Malaysia and Thailand, which produce the vast majority of palm oil imported into Europe, had warned earlier that they’d retaliate in opposition to what they known as protectionist measures, if a ban was launched.

NOV 3, 2017

Indonesia says it might block milk powder imports from the EU if the bloc pushed ahead with a decision to limit imports of palm oil.

APRIL 16, 2018

British grocery store chain Iceland says it will take away palm oil from its own-brand meals merchandise attributable to issues over rainforest destruction. The Council of Palm Oil Producing International locations (CPOPC), led by Indonesia and Malaysia, says claims made by Iceland misled shoppers on the environmental advantages of different vegetable oils.

MARCH 13, 2019

The European Fee concludes that palm oil cultivation leads to extreme deforestation and using dangerous biofuel feedstocks, together with palm oil, ought to be capped till 2023 and phased out by 2030.

DEC 16, 2019

Indonesia information a lawsuit on the World Commerce Group (WTO) in opposition to the EU, claiming the bloc’s restrictions on palm oil-based biofuel have been unfair.

FEB 7, 2020

Indonesia and Malaysia accuse the EU of discriminating in opposition to palm oil below a plan to impose new limits on ranges of meals contaminants often known as 3-MCPD esters present in refined oils and fat. The CPOPC questions the EU’s resolution to impose a decrease restrict for palm oil in comparison with different vegetable oils.

JULY 17, 2020

The CPOPC provides to work with the European Fee to draft guidelines for the EU’s “Farm to Fork” meals provide coverage geared toward making a sustainable provide chain.

JAN 19, 2021

Malaysia information a WTO criticism in opposition to the EU and its member states France and Lithuania for limiting palm oil-based biofuels.

DEC 6, 2022

The EU agrees on a brand new regulation which bans the sale of palm oil and different commodities linked to deforestation until importers can present that manufacturing of their particular items has not broken forests.

JAN 9, 2023

Indonesian and Malaysia comply with work collectively and strengthen cooperation to battle discrimination in opposition to palm oil.

JAN 12, 2023

Malaysia says it might cease exporting palm oil to the EU in response to the brand new deforestation regulation introduced in December. EU’s ambassador to Malaysia says the bloc isn’t banning any imports of palm oil from the nation and that the regulation applies equally to commodities produced anyplace, together with in EU member states.

(Reporting by Matthew Chye; Modifying by Mei Mei Chu and Tom Hogue)



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