Plans are underway to revive palm oil, according to a Malaysian minister.
It is expected to remove the term "crude" to describe palm oil and the precious commodity will instead be promoted as a leading Malaysian brand, said Mah Siew Keong.
The Minister of Industries and Plantation Products said that the word was not an appropriate description of the country 's largest net export commodity.
"There is no reason for this to be called crude palm oil.
"The Malaysia Palm Oil Council will refer to the commodity as Malaysian palm oil in the future," he said at the launch of the 13th Seminar of the Society National real estate companies (ISP) yesterday.
While acknowledging that palm oil may be faced with unjustified attacks from several quarters, particularly from the European Union, he noted that the commodity possessed vast potential and generated billions Of ringgit for the nation.
"Numbers do not lie and the palm oil industry is doing well. Exports of palm oil rose by almost 31 per cent between January and May of this year, Report to the same period last year, "he said.
He said that total exports of commodities, including palm oil, rubber, cocoa and pepper, increased by 27% for the same period and are expected to reach $ 130 million ($ 30.3 billion) this year.
Mah said he will today head a two-day economic and promotional mission to the Philippines to promote the export of palm oil and rubber products to the nation Of Asean.
He stated that Malaysia exported palm oil products, rubber and related products to the Philippines last year, while exports totaled $ 1.983 billion for First five months of this year.
Mah said the palm oil used can be processed into animal feed and help the poultry industry reduce the import of corn, which costs about RM2 billion per year.
ISP has some 17,235 registered members and is published in 45 countries.