Malaysia: Export of palm oil, and related products hit RM99.3 billion in Jan-Nov 2024

Published 2024년 12월 16일

Tridge summary

Malaysia's palm oil exports reached RM99.3 billion from January to November 2024, a significant increase of RM12.5 billion compared to the same period in 2023. India was the largest market, accounting for 18.5% of the total exports. The country aims to further increase its palm oil exports this year, making it the third-largest contributor to the country's export value after the electrical and electronics and oil & gas sectors. Malaysia will also take over the chairmanship of the Council of Palm Oil Producing Countries in next year and will hold the position of secretary general from June 2025. The country has also published the Malaysian Sustainable Palm Oil standard in the International Trade Centre Standards Map, demonstrating its commitment to sustainability.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

BANGI (Dec 16): Export of palm oil and related products reached RM99.3 billion in January-November 2024, an increase of RM12.5 billion compared to the same period in 2023. Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani said seven markets collectively contributed 54.4% of Malaysia's total palm oil exports for the first 11 months of 2024. "For the January to November 2024 period, India remains the largest market for Malaysian palm oil with 2.9 million tonnes (18.5%), followed by China (1.3 million tonnes), the European Union (1.2 million tonnes), Kenya (1.1 million tonnes), Turkiye (832,000 tonnes), the Philippines (611,000 tonnes), and Japan (553,000 tonnes)," he said in his speech during the 2024 Malaysian Palm Oil Board (MPOB) Excellence Awards Ceremony, here on Monday. Johari said that Malaysia aims to achieve an increase in exports from palm oil and palm-based products this year. He added that the country's palm oil is the third-largest contributor in terms ...

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