Ministry ready to embrace blockchain technology in palm oil industry

KUALA LUMPUR (Nov 5): The Ministry of Plantation Industries and Commodities (MPIC) is ready to accept any technological innovation, including blockchain technology, as long as it meets the traceability requirements of the country’s palm oil industry.

Its Minister Datuk Dr Mohd Khairuddin Aman Razali said blockchain technology is a big element and it is also part of the Ministry’s preparation towards ‘Big Data’ which enables it to analyse the industry development and make the right decisions.

“However, this matter needs a careful study in terms of several aspects such as infrastructure, costs, requirements, and existing legal provisions.

“It should be studied in more detail with all agencies under the Ministry to provide strategic planning in responding to the Government’s call towards the Fourth Industrial Revolution (IR4.0),” he said in a question-and-answer session in the Dewan Rakyat today.

He was responding to a question from Datuk Seri Shamsul Iskandar (PH-Hang Tuah Jaya) who wanted the Ministry to state its readiness in improving the sustainability of the Malaysian palm oil industry, especially in terms of traceability.

Khairuddin said the Ministry had also implemented a mandatory Malaysian Sustainable Palm Oil (MSPO) certification scheme from Jan 1, 2020.

He said according to the latest statistics on MSPO certification achievement until Oct 21, about 88% of the oil palm plantation areas covering 5.19 million hectares, and 421 of the 452 palm oil mills, have been MSPO-certified.

“Efforts to improve the traceability aspect in MSPO certification are being actively implemented with the development of the Malaysian Sustainable Palm Oil Trace (MSPO Trace) Application which was developed and launched in November last year.

“MSPO Trace is an information technology platform for continuous certification monitoring aimed at providing accountability and traceability throughout the oil palm value chain from growers to customers,” Khairuddin said.

MSPO Trace was developed using data from MSPO certification for traceability functions, he added.

Source : The Edge Markets

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