Between January and August of this year, Malaysia exported 9.66 million metric tons of palm oil, valued at RM40.51 billion, New Straits Times reported.
According to data from the Malaysian Palm Oil Board (MPOB), India is the country that imports the most Malaysian palm oil, with a total value of RM7.08 billion and an export quantity of 1.81 million metric tonnes during the same period, according to a parliamentary reply from the Plantation Industries and Commodities Ministry.
“China comes second at RM3.30 billion with the export quantity of 0.85 million metric tonnes.
“This followed by the European Union (EU) with a total of RM3.10 billion and 0.71 million metric tonnes.”
An inquiry made by Datuk Azman Nasrudin (PN-Padang Serai) on the amount exported per nation, expressed in metric tonnes and ringgit value.
The leading international markets for Malaysian palm oil exports, according to the ministry, are Turkey, Kenya, Japan, Pakistan, South Korea, the Philippines, and Saudi Arabia, excluding India, China, and also the EU.
Regarding the EU Deforestation Regulation (EUDR), the ministry reported that, as the two largest palm oil producers worldwide, Malaysia and Indonesia are actively negotiating with the EU’s highest officials in order to elucidate the regulations’ detrimental economic effects.
“We are assuring the EU that Malaysia committed to sustainable development.”
Between January and August of this year, Malaysia exported 9.66 million metric tons of palm oil, valued at RM40.51 billion, New Straits Times reported.