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Indonesia and Malaysia, the two largest palm oil producers in the world, will send representatives to Brussels on May 30 and 31 to try to minimize the impacts that the European Union's anti-deforestation law could have on producers in both countries.
Together, they account for 85% of global exports of the commodity, with the EU being the third largest consumer market, behind India and China.
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Last Tuesday (16), the European Council approved a new regulation to bar the entry of commodities linked to deforestation into EU territory.
Indonesia and Malaysia accuse the EU of discriminatory policies. “The law could exclude the important role of smallholders in the global supply chain and fail to recognize their importance and rights,” said Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto.
Diplomats from the European bloc claim that the law does not prevent imports of palm oil from the two Asian countries, as it applies equally to commodities produced anywhere in the world.
Source: datagro
