Malaysia recorded an export value of palm oil of RM40.51 billion from January-August 2023

Published 2023년 11월 1일

Tridge summary

Malaysia's palm oil exports from January to August 2023 amounted to RM40.51 billion, with India being the main importer, followed by China and the European Union. The Ministry of Plantation and Commodities stated that the European Union's Deforestation-Free Product Regulation will pose challenges for palm oil exports to the EU, as it adds administrative burdens and increases production costs, making it less competitive compared to other vegetable oils. Malaysia and Indonesia are engaging in discussions with EU leaders to highlight the negative economic implications of the regulation.

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Original content

KUALA LUMPUR: Malaysia recorded an export value of palm oil amounting to RM40.51 billion for the period from January to August 2023 with an export quantity of 9.66 million tonnes, said the Ministry of Plantation and Commodities (KPK). According to the KPK, India is the main importer of Malaysian palm oil with a value and quantity of RM7.08 billion and 1.81 million tonnes respectively for the period from January to August 2023. "While China is the second largest market recording RM3.30 billion and 0.85 million tons, followed by the European Union (EU) with a total of RM3.10 billion and 0.71 million tons," said the KPK through a written answer in the Dewan Rakyat published on the website Parliament website, on Wednesday. The KPK answered the question of Datuk Azman Nasrudin (PN-Padang Serai) who wanted to know the complete amount of Malaysian palm oil exports by country based on ringgit value and tonnage. The ministry said based on statistics from the Malaysian Palm Oil Board, ...

Source: Astroawani