Malaysian palm oil sector reveals hottest prospects for overseas growth
RBD Palm Oil
Malaysia
Published Mar 2, 2022
Tridge summary
Vietnam, the Philippines, along with Middle Eastern and North African nations have been identified as key growth opportunities for the Malaysian palm oil sector, as it seeks to open up new export channels.
Original content
When we spoke with the Malaysian Palm Oil Council (MPOC) last year, CEO Datuk Dr Wan Zawawi Wan Ismail had already shared the council’s plans to move beyond China and India – Malaysia’s current top export destinations for palm oil – in order to diversify the country’s export markets. “The current palm oil market has only two major palm oil exporters with Indonesia taking about 70% and us taking about 26% to 27%, and it has been this way for some time now. [If] we don’t diversify our export markets and find new markets to break into, this will remain forever stagnant and Malaysia will never move beyond this 27%,” he told FoodNavigaotr-Asia. “So we need to diversify to break away from traditional markets and this stagnation, and although India and China remain very important markets to us and will continue to be a focus, we are also focusing energies on other parts of the world.” According to MPOC Director for Marketing and Market Development Faisal Iqbal, some of the key ...
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes.
To learn more about our cookies, please read our Privacy Policy.