Economist Jomo Kwame Sundaram says there has been no significant breakthrough in palm oil industry for quite a long time.
“They have what we call a free-rider problem because if company A does something and makes a breakthrough, company B, C, D and E can all take advantage of that. “The research should have been done three decades ago, but we should be catching up. We’ve had some important achievements as far as palm oil is concerned but we haven’t had any significant big breakthrough for quite a long time.”
It was reported that Malaysia was going on the offensive to inform the European Union about its palm oil policy and also prevent the EU from taking what is being portrayed as a “propensity towards protectionism”.
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