The European Union's Zero Deforestation Regulation (EUDR): Assessment of impacts and strategies for the Malaysian palm oil industry and the global palm oil sector
Review Article
15/06/2024
Description
This study focused on exploring the likely impacts of the EUDR on the palm oil market and subsequently focused specifically on the Malaysian palm oil industry. By integrating the results of a PESTLE analysis, which assesses the political, economic, social, technological, legal and environmental factors impacting the global palm oil market, and a SWOT analysis, which categorizes the strengths, weaknesses, opportunities and threats of the Malaysian palm oil industry, this study provides a holistic understanding of the challenges and opportunities posed by the EUDR. The results show that the implementation of the EUDR in the palm oil industry has far-reaching consequences. The analysis sheds light on the multifaceted effects of sustainability regulations on a crucial global commodity and offers valuable insights for policymakers, industry stakeholders and researchers.