Malaysia’s Palm Oil Exports to China Down 2.3% in 2024

Published Feb 26, 2025

Tridge summary

Malaysia and China plan to enhance cooperation in palm oil supply and market expansion, focusing on industry upgrades and expanding the use of palm oil in various sectors. The ministry aims to speed up the commercialization of palm oil products in the Chinese market through collaboration with Chinese companies in food processing, FMCG, and renewable energy sectors. Despite challenges like the premium for palm oil over soybean oil, Malaysian Palm Oil Board remains hopeful about Chinese purchases. Malaysia's palm oil exports to China are projected to reach $2.39 billion in 2024.

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Original content

Malaysia and China will continue to strengthen cooperation in palm oil supply and market expansion, said Deputy Minister of Plantations and Commodities Datuk Chan Foong Hin. The two countries will work together to upgrade the industry and expand the use of palm oil in food, oleochemicals and renewable energy. This was stated by Datuk Chan Foong Hin in his speech at the official opening of the International Oils and Fats Forum. The forum was organized by the Ministry of Plantations and Commodities jointly with Beijing Heyirong Invest Group and the China-Malaysia Qinzhou Industrial Park with the support of the Dalian Commodity Exchange (DCE). Chan also said that the ministry aims to accelerate the commercialization of palm oil products in Chinese markets through joint development with Chinese companies in the food processing, fast-moving consumer goods (FMCG) and renewable energy sectors. Meanwhile, Malaysian Palm Oil Board (MPOB) CEO Ahmad Parviz Ghulam Kadir said the premium for ...

Source: UkrAgroConsult