Malaysia to export US$891m of palm oil to China

  • Business,Business News,Plantations
  • Monday, 04 Mar 2019

Malaysian palm oil futures dropped from an eight-week high on Thursday, falling as much as 1.4 percent in the second half of trade, weighed down by weaker soyoil on the U.S. Chicago Board of Trade (CBOT) and profit taking.

KUALA LUMPUR: Malaysia has signed four agreements with Chinese parties for the export of 1.62 million tonnes of palm oil, worth US$891mil based on current prices.

The purchase intent documents were inked during the Malaysia-China Palm Oil Business Forum here on Monday, witnessed by Primary Industries Minister Teresa Kok.

Kok, during her speech, said the forum was a follow-up to the delegation meeting between the two countries in August last year, during which it was decided that the Chinese uptake of Malaysian palm oil would be increased by 500,000 tonnes.

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