FIRST DEATH KNELL – MAHATHIR’S BIG MOUTH, 2ND DEATH KNELL – COVID-19: PALM OIL INDUSTRY TAKES A BEATING – ANOTHER PILLAR OF THE ECONOMY AFTER OIL & GAS CRUMBLES – WHAT WILL HAPPEN TO MALAYSIA?

PETALING JAYA: Exports of palm oil-based products saw a significant drop of 34.8%, or 793,257 tonnes, to 1,486,521 tonnes compared to 2,279,778 tonnes during the same period in 2019, says Plantation Industries and Commodities Minister Datuk Dr Mohd Khairuddin Aman Razali.

n a statement today, he added that palm oil exports consisting of crude palm oil and processed oil also declined by 41.7%, or 636,847 tonnes, to 890,331 tonnes from 1,527,178 million tonnes during the same period.

“However, the ministry will continue to strengthen its efforts to explore new markets by employing strategies suitable for the country,” Mohd Khairuddin said.

“Malaysia is also ready to share expertise and skills via trade missions, seminars related to technical and economic issues, programmes to introduce Malaysian oil palm industry and collaborating on the governance of the oil palm industry,“ he added.

Besides strengthening existing markets, especially India, China and the European Union (EU), Mohd Khairuddin said his ministry has also identified new markets which could be developed via direct or joint venture investments.

“These markets include Asia Pacific countries (the Philippines, Vietnam and Myanmar), the Middle East (Egypt, Saudi Arabia and Jordan), African countries (Djibouti, Ethiopia, Somalia and Mozambique) as well as the Central Asian countries (Afghanistan, Uzbekistan and Kazakhstan).” he said.

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