Global demand for oils and fats expected to recover in 2021 despite the pandemic as many countries kickstart their economies, leading to higher food demand.
KUALA LUMPUR: Malaysia’s total export value of palm oil and palm oil products likely surpassed RM70bil (US$17.5bil) in 2020, from RM67.5bil in 2019, according to Plantation Industries and Commodities Minister Datuk Dr Mohd Khairuddin Aman Razali.
The government’s move to suspend export duties on crude palm oil between June-Dec. contributed to the significant increase in exports, Khairuddin said at an online seminar on Tuesday.
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