Malaysia: Fadillah’s visit was a success; China to increase palm oil imports

Published 2023년 11월 21일

Tridge summary

Deputy Prime Minister Datuk Seri Fadillah Yusof's official visit to China resulted in an increase in cooperation between the two countries, particularly in the fields of agriculture and palm oil commodities. China has committed to importing 3.4 million tonnes of palm oil next year, up from the estimated 3.14 million tonnes. The visit also focused on resolving trade issues, expanding the palm oil market to other countries, and establishing a bilateral mechanism between the two countries.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The official visit of Deputy Prime Minister Datuk Seri Fadillah Yusof to China ended successfully with the country committing to closer cooperation, especially in the fields of agriculture and palm oil commodities. Fadillah, who is also Minister of Plantation and Commodities, said the country with a population of around 1.4 billion has committed to increase palm oil imports to 3.4 million tonnes next year compared with the estimated 3.14 million tonnes so far. China has been Malaysia’s largest trading partner for the past 14 years. In 2022, the value of Malaysia’s agricommodity exports to China contributed 12.8% of Malaysia’s total agricultural commodity exports in the international market with a value of RM26.46 billion, an increase of 11% compared with 2021. The value of palm oil-based products exports to China in 2022 was RM16.41 billion while the value of Malaysia’s palm oil exports to China in the same year was RM8.44 billion. “I think this is a very successful mission. ...

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