Malaysian oil palm industry: A view on the economic, social, and environmental aspects

• Published in: Economics and Environmental Responsibility in the Global Beverage Industry
• Main Author: Ali M.S.; Vaiappuri S.; Tariq S.
• Format: Book chapter
• Language: English
• Published: IGI Global 2024
• Online Access: https://www.scopus.com/inward/record.uri?eid=2-s2.0-85196345589&doi=10.4018%2f979-8-3693-2149-2.ch014&partnerID=40&md5=7a02251f76a16905f56ba5a9058ac8a4

Palm oil, renowned for its high yield per hectare, drives vast cultivation areas across major producing nations, notably Malaysia, a global leader in palm oil production. In 2020, Malaysia's palm oil sector contributed 2.7% to GDP, exporting 16.2 million metric tons valued at 73.3 billion Malaysian ringgit. Integral to the economy, it spurs rural development and generates substantial foreign exchange. However, its impact extends beyond economics, fostering intricate social dynamics, including labor abuses, land conflicts, and indigenous displacement. Environmental concerns, such as deforestation and biodiversity loss, necessitate sustainable practices and certification initiatives. This chapter delves into these issues, advocating for a balanced approach that prioritizes economic growth, social equity, and environmental stewardship in Malaysia's oil palm sector. © 2024, IGI Global. All rights reserved.