Malaysia secures over RM230mil in palm oil trade deals during China visit

Published Jul 17, 2024

Tridge summary

Malaysia has secured over RM230 million in palm oil trade deals during Deputy Plantation and Commodities Minister Datuk Chan Foong Hin’s recent visit to China. The visit led to the signing of four MoUs between Malaysian palm oil companies and Chinese businesses at the 15th China International Cereals and Oils Industry Summit. These agreements aim to expand palm oil trade into new sectors, including digital market access and health products, and are expected to increase in value over the coming years, enhancing bilateral cooperation in the palm oil sector between Malaysia and China.

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Original content

Malaysia has secured over RM230 million in palm oil trade deals during Deputy Plantation and Commodities Minister Datuk Chan Foong Hin’s recent working visit to China. In a statement today, the Ministry of Plantation and Commodities (KPK) said Chan’s visit from July 8-12 to promote Malaysian agri-commodities in China has resulted in the signing of four memoranda of understanding (MoUs). “The four MoUs were signed between Malaysian palm oil companies and businesses in China at the 15th China International Cereals and Oils Industry Summit in Nanjing on July 11, 2024,” it said. KPK said the four MoUs signed were between Kuala Lumpur Kepong Bhd and BOCE Trade Service Co Ltd for tocotrienol exports; between Taobao (China) Software Co Ltd and Able Perfect Group for expanding digital market access; between Taobao (China) Software Co Ltd and Sawit Kinabalu Group for crude palm oil trade; and between JF Nutritech and Palmort Food Tech (Shanghai) for the application of red palm oil in ...

Source: UkrAgroConsult