get through that lot: A worker collects palm oil fruit inside a palm oil factory in Sepang, outside Kuala Lumpur, Malaysia. "It will surely have an impact on us even though we do not export palm oil to the European Union," John Clendon, managing director of Univanich Palm Oil Plc, one of Thailand's leading palm oil producers, told Spectrum in a telephone interview. The warning from the industry expert came even though Thai authorities said the move would have no impact on Thailand's palm oil industry, citing the fact that the country does not export palm oil biofuel to the EU and even exports of edible palm oil have been minimal. The EU has overtaken China to become Malaysia's second-largest export market for palm oil, importing 2.06 million tonnes in 2017, according to the Malaysian Palm Oil Board. The Department of Internal Trade (DIT) usually sets the price of crude palm oil and refined palm oil.

Source: Bangkok Post January 28, 2018 02:37 UTC