Country says new rules would block its palm oil exports and push up costs
KUALA LUMPUR: Malaysia on Thursday said it was disappointed over a European Union law banning imports of commodities linked to deforestation, fearing a hit to its exports of palm oil to the bloc.
On Wednesday, the European Parliament approved a landmark law that will require companies that sell goods into the European Union to produce “verifiable” information proving their goods were not grown on land deforested after 2020, or risk hefty fines.
The law will apply to soy, beef, palm oil, wood, cocoa, coffee, rubber, charcoal,…
