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Malaysia: Palm oil exports decline 41.7pc over MCO

  • Apr 30, 2020

KUALA LUMPUR, April 30 — Exports of palm oil products had declined significantly by 34.8 per cent year-on-year (y-o-y) or 793,257 tonnes to 1.48 million tonnes during the movement control order (MCO) period up to April 14, 2020, from 2.28 tonnes recorded in the same period last year.

Crude palm oil (CPO) and processed palm oil exports fell by 41.7 per cent y-o-y or 636,847 tonnes to 890,331 tonnes during the same period, compared with 1.52 million tonnes previously, said Plantation Industries and Commodities Minister Datuk Dr Mohd Khairuddin Aman Razali.

In a statement today, he said the ministry will strengthen its efforts to explore new markets by employing strategies suitable for the country.

“Malaysia is also ready to share expertise and skills via trade missions, seminars related to technical and economic issues, programmes to introduce Malaysian oil palm industry and collaborating on the governance of the oil palm industry,” he said.

Aside from strengthening existing markets, especially India, China and the European Union (EU), the Ministry of Plantation Industries and Commodities has also identified new markets which could be developed via direct or joint venture investments. 

“These markets include Asia Pacific countries (the Philippines, Vietnam and Myanmar), the Middle East (Egypt, Saudi Arabia and Jordan), African countries (Djibouti, Ethiopia, Somalia and Mozambique) as well as the Central Asian countries (Afghanistan, Uzbekistan and Kazakhstan),” said Mohd Khairuddin.

He said most of the countries had expressed interest with regards to the supply aspects or were involved in the development and manufacture of oils and fats using the Malaysian palm oil.

“This proves that the countries are confident on the Malaysian palm oil’s quality, and demonstrates Malaysia’s edge as a palm oil supplier and a trusted partner in developing the palm oil and palm oil-based fats industry in their respective countries,” he added. — Bernama

Source: https://www.malaymail.com/news/malaysia/2020/04/30/palm-oil-exports-decline-41.7pc-over-mco/1861705