Malaysia Palm Oil Industry
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An Introduction to Malaysia Palm Oil Industry
The continual growing demand for edible oil has resulted in a great demand for palm oil which has become a great boost for the palm oil companies in Malaysia. Based on these demands the Malaysia Palm oil Industry has touched great heights and is now one of the highest producer of palm oil. Indonesia and Malaysia Palm Oil Industries have witnessed a great deal of increase in the palm oil production in the last decade or so time.
Most of the Malaysia Palm Oil Industries can be seen mostly in Peninsular Malaysia and they are there for the past fifty years almost. This plantation was done because of a diversification plan undertaken by the Government of Malaysia. Though the Government of Malaysia took this seriously much later when they realized the demand of the palm oil in the world market and also the amount of profit they are going to get from it.
This has made the Malaysia Palm Oil Industry a major revenue earning industry for the country. The government has become serious in this business and has helped the Malaysian Palm Oil Industry to almost double the production in the country in the last ten to twelve years. The Malaysia Palm Oil industry has increased the production from 6,094,622 metric ton to 11,880,000 metric ton.
Whatever amount of palm oil is produced in Malaysia almost 85 percent of it is exported and this mass amount of exportation has made Malaysia the largest exporter of the Palm Oil and has given the Malaysian Palm Oil Industry a good name in the world.
The demand for palm oil is on a high as it is used in most of things that include soap, cosmetics to ice cream and margarine. The Malaysian Palm Oil Industry is looked after by the Malaysian Palm Oil Board which was founded in the year 1998 under the palm oil act and is very important to the development of the Malaysian Palm Oil Industry.
This board looks after most of the aspects of the Malaysian Palm Oil industry and most other things related to it. It has been estimated that the export amount and the palm oil based products cost earn almost $3 billion dollar for the country which makes the Malaysian Palm Oil Industry a very important designation in the country.
