Malaysia’s palm oil, palm oil products exports to exceed RM70b this year

04.07.2017

Malaysia's export of palm oil and palm oil products this year is expected to exceed RM70 billion from the RM67 billion registered last year, with Europe, India and China remaining the top three importing countries.

Minister of Plantation Industries and Commodities Datuk Seri Mah Siew Keong said palm oil production is also expected to increase to 19.5 million tonnes this year from 17.6 million in 2016.

“Apart from Europe, India and China, Malaysia is stepping up efforts at finding new potential markets in Asean like the Philippines, which imported about RM1 billion worth of palm oil, as well as the Middle East.

“With competition from soya oil in the traditional markets remaining the big challenge, the government will need to increase marketing effort towards ensuring demand for palm oil continues to be strong,” he told reporters at the Malaysian Palm Oil Board’s (MPOB)  Hari Raya open house here today.


themalaymailonline

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