Malaysian palm oil shipments to MENA may grow up to 75% of the region's import of the commodity in five years

KUALA LUMPUR (Sept 21): Malaysia’s shipments of palm oil based-oils and fats to the Middle East and North Africa (MENA) may grow up to 75% of the region’s import of the commodity in the next five years from the current 64%, amid population growth and an increase in demand for palm oil for the food and non-food industries. Managing director of Alami Commodities Sdn Bhd Ahmed Alami said the MENA region does not produce sufficient oilseeds due to their geographical location and other limitations, and domestic and imported oilseeds only manage to meet 36% of the region’s total requirement, thus the remaining balance has to be fulfilled through imports of vegetable oils. “Located in the heart of some 700 million consumers in the region, Saudi Arabia has the potential to expand and become the supply hub for Malaysian palm oil,” he said in his presentation during the Malaysian Palm Oil Council webinar series: “Malaysian Palm Oil in the Middle Eastern Markets, Trends & Potential”. He said ...