MPOC: Middle East continues to be an important export destination for Malaysian palm oil

Published 2022년 1월 30일

Tridge summary

The Middle East region, with a population of over 330 million and growing consumption of specialty fats, is a key export destination for Malaysia, with palm oil consumption increasing by 8% in 2021. The leading importers are Turkey and Iran, and the UAE market is expected to grow to US$467.1 million by 2025. The Malaysian Palm Oil Council (MPOC) plans to promote global recognition of Malaysian Sustainable Palm Oil (MSPO) and plans to strengthen its marketing and promotional efforts. The palm oil industry, which contributed 40% to Malaysia's total revenue in 2021, is expected to maintain its performance in 2022 despite challenges such as higher input prices and the Omicron wave.

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Original content

KUALA LUMPUR (Jan 30): With a population base of over 330 million and consumption of 2.34 million tonnes last year, an increase of 8% from 2020, the Middle East region will continue to be an important export destination for Malaysia, Malaysian Palm Oil Council (MPOC) said. Chief executive officer Wan Aishah Wan Hamid said the region has shown consistent growth in consumption of specialty fats and palm oil would benefit from this trend due to its nutritional qualities and functional attributes. “This region is also set to see a boost in demand due to the global events like Expo 2020 Dubai, FIFA 2022, religious tourism and more,” she told Bernama. Last year, the export of Malaysian palm oil to the Middle East registered an increase of 8.2%. The leading importer from this region is Turkey with a volume of 703,588 tonnes followed by Iran with 404,319 tonnes. These two markets have recorded increases of 19% and 25% respectively. Other countries which recorded increases are United Arab ...

Source: Theedgemarkets