Palm oil supplies to the Middle East countries may grow against the backdrop of Expo-2020 and the World Cup

Published 2022년 1월 31일

Tridge summary

In 2021, the Middle East region's palm oil consumption reached 2.34 million tons, making it a significant export destination for Malaysia, as reported by Reuters and the Malaysian Palm Oil Council (MPOC). This increase is attributed to the region's rising specialty fat consumption and is further expected to grow due to upcoming major events like Expo 2020 in Dubai and the 2022 FIFA World Cup in Qatar. Turkey and Iran were the top importers of Malaysian palm oil, followed by the United Arab Emirates and several other Middle Eastern countries, with imports from Malaysia experiencing an 8.2% increase last year.

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Original content

Estimated consumption of palm oil by residents of the countries of the Middle East region, whose population is more than 330 million people, at the end of 2021 reached 2.34 million tons. This is reported by Reuters. Thus, according to analysts of the Malaysian Palm Oil Council (MPOC), the Middle East will continue to be an important export destination for the supply of the product from Malaysia in the near future. MPOC CEO Wang Aisha Van Hamid said the region is seeing a steady increase in specialty fat consumption, and palm oil is benefiting from this trend due to its nutritional qualities and functional properties. “Palm oil demand is expected to rise in the region with major events such as Expo 2020 in Dubai and the 2022 FIFA World Cup in Qatar further boosting tourism and more,” she said. Malaysian palm oil shipments to the Middle East rose by 8.2% last year. The leading importer of the product from this region is ...

Source: Oilworld