Minister: Palm oil export to Iran to grow by 40% under FTA

Key areas: Resolving the issue of stagnating palm fruit yields and pushing for mechanisation in plantations to mitigate labour shortage are the Plantation Industries and Commodities Ministry

TEHRAN: The Plantation Industries and Commodities Ministry is positive that Malaysia’s total export of palm oil and palm oil products to Iran will grow by 30% to 40% next year, under a preferential or free trade agreement (FTA), from 453,172 tonnes worth US$331mil achieved in 2016.

Minister Datuk Seri Mah Siew Keong said Malaysia just needed to sort out the current tax regime imposed by Iran on palm oil import.