Singapore Emerges As Third-Largest Importer of Malaysian Palm Oil in ASEAN

The three main exports of Malaysian palm oil products to Singapore are made up of palm oil (361,898 tonnes), olechemical (150,625 tonnes), finished palm oil products (136,488 tonnes), and other palm oil products. — Picture by Yusof Mat Isa

Singapore emerged as the third-largest importer of Malaysian palm oil products in the Asean region in 2019 with an increase of 5.8 per cent in volume from 650,411 tonnes to 688,457 tonnes.

Malaysian Palm Oil Board (MPOB) chairman Datuk Ahmad Jazlan Yaakub said the MPOB was positive that Malaysia’s palm oil exports to neighbouring countries would continue to increase, as the economies get back on track following the COVID-19 pandemic.

The three main exports of Malaysian palm oil products to Singapore are made up of palm oil (361,898 tonnes), olechemical (150,625 tonnes), finished palm oil products (136,488 tonnes), and other palm oil products,” he said in a statement.

Ahmad Jazlan today received a courtesy call from Singapore Deputy High Commissioner to Malaysia Loy Hui Chien at his office.

MPOB director-general Ahmad Parveez Ghulam Kadir also attended the meeting which, among others, discussed the Malaysian palm oil sustainability and ways to increase export of the commodity to Singapore in the future.

For the January-June 2020 period, Ahmad Jazlan said the value of Malaysian palm oil export to Singapore increased 9.0 per cent to 357,542 tonnes from 327,942 tonnes worth RM1.18 billion.

Ahmad Jazlan said the export also helped the ministry achieve the oil palm industry target of contributing RM70 billion to the gross domestic product (GDP) compared to RM64.84 billion last year.

Source: www.malaymail.com