Last Updated : 12 November 2012 at 12:50 IST
France proposes 300% tax on Palm Oil, 'attack on the industry' reacts MPOC
Reacting to the environmental concerns raised by the French Senator, the statement added that the Malaysian palm oil has a proven track record on efficient land use and conservation.
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KUALA LUMPUR (Commodity Online): A statement by the Malaysian Palm Oil Council (MPOC) CEO Tan Sri Dr Yusof Basiron on the proposed 'Nutella Tax' offered by French Senator Yves Daudigny has stated that the proposed 300 percent tax increase on Palm oil is based on inaccurate claims that the palm oil is bad for health and nutrition and Malaysia does not respect the environment while farming Palm oil.
However, if the tax is come in to force then, it would badly effect the Palm Oil industry in both France and Malaysia. In Malaysia around 2,40,000 small farmers depend upon Palm Oil for their livelihood and many more on industry related works.
Further the statement claims that every nutritional and food expert concludes that palm oil is in fact free of dangerous transfats, free of GMOs and contains valuable vitamins contrary to the opinion of French Senator.
French people involuntarily consume worse alternatives such as hydrogenated sunflower or rapeseed oil if proposed tax come in to force.
Reacting to the environmental concerns raised by the French Senator, the statement added that the Malaysian palm oil has a proven track record on efficient land use and conservation. Malaysia has over 50 per cent of its land committed to forest cover, and has designated just over 24 per cent of total land area for agricultural purposes.
The proposed taxation is an provoked attack on Palm oil and it burdens on palm oil producers- stated Malaysian Palm Oil Council statement.
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