REACH AND REMIND FRIENDS OF THE INDUSTRY SEMINAR 2020 AND DIALOGUE

"The Malaysian palm oil industry continues to contribute robustly towards the nation’s economic development. This industry is now the fourth largest component of the national economy.

From January to November 2019, the total exports of palm oil and its downstream derivatives from Malaysia stood at 25.7 million tonnes, an increase of 10.9% from the same period in 2018 of 23.2 million tonnes.

Although this generated an income of more than RM59 billion to the country, this is a decline of 5.9% compared to 2018’s revenue of RM62.7 billion, again for the same time frame.

Palm oil has now become a leading vegetable oil globally and Malaysia is now the second largest exporter accounting for 20.1% of global oils and fats export. Indeed, China, India, the European Union, the USA and Japan are among the major palm oil export destinations for Malaysia," 

YB TERESA KOK

Minister of Primary Industries