Turkiye imports US$1 billion Malaysian palm oil and related products in 2023, says minister

Published Jun 3, 2024

Tridge summary

Turkey imported 1.11 million tonnes of Malaysian palm oil and its products last year, valued at US$1.01 billion, making it the fifth largest buyer globally and the largest in the Middle Eastern region. The Minister for Plantation and Commodities of Malaysia highlighted the potential for growth in sectors using high-value-added derivatives and promoted sustainable palm oil in global markets. The Malaysian Palm Oil Council recognized the significant growth potential in Turkiye and has consistently prioritized promotional efforts in the region, diversifying Malaysia's offerings and strengthening its market share. Malaysia's commitment to sustainability is underscored by the Malaysian Sustainable Palm Oil (MSPO) certification, which has been mandatory since January 2020.

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Original content

Turkiye imported 1.11 million tonnes of Malaysian palm oil and its products last year, valued at US$1.01 billion (RM 4.444 billion), making it the fifth largest buyer globally and the largest in the Middle Eastern region, said Datuk Seri Johari Abdul Ghani. A statement today said the Minister for Plantation and Commodities said Turkiye’s high demand for palm oil and strategic geographic location were key for expanding Malaysian palm oil markets into Europe, the Middle East, and the Caucasus regions. He highlighted the potential for growth in sectors using high-value-added derivatives such as oleochemicals for home and personal care products, promoting sustainable palm oil in global markets. He made these remarks at the Trade and Networking dinner organised by the Malaysian Palm Oil Council (MPOC) at the Shangri-La Hotel in Istanbul, Turkiye yesterday (May 30). The dinner, which brought together key industry leaders from Turkiye’s oils, fats, and downstream sectors, aimed to ...

Source: UkrAgroConsult