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Malaysia is conducting a five-day Palm Oil Economic Mission to Saudi Arabia beginning Monday to discuss the commodity issue, as well as to promote its timber and furniture, Deputy Primary Industries Minister Datuk Seri Shamsul Iskandar Mohd Akin (pix) said

China will see an ample supply of edible vegetable oil despite sharp decline in canola seed imports caused by strengthened customs quarantine, according to the Ministry of Agriculture and Rural Affairs (MARA).

Prime Minister Tun Dr Mahathir Mohamad will be invited to speak at two important forums during the upcoming three-day Belt and Road Summit/Forum in Beijing, the world’s largest diplomatic event this year

Malaysia can expect an influx of investments from China and higher sales of palm oil to China this year following the revival of the East Coast Rail Link (ECRL) project, according to Chinese Ambassador Bai Tian

China is keen to buy more Malaysian palm oil and the purchase this year will increase, according to Chinese Ambassador to Malaysia Bai Tian.

China is committed to significantly increase the purchase of Malaysian palm oil, following the revival of the stalled East Coast Rail Link.

Malaysia will look to leverage its expansive palm oil resources to support military procurement, a senior government official has stated.

China’s purchase of an additional 500,000 tonnes of local palm oil may help trim the glut the sector is facing, after Kuala Lumpur and Beijing agreed to push forward the RM44 billion East Coast Rail Link (ECRL) project.

The Sarawak Oil Palm Plantation Owners Association (Soppoa) fully supports Indonesia’s move to retaliate against the European Union (EU) by limiting imports from EU countries including spirits, following the proposed act to ban use of palm oil as biofuel in EU countries by 2030

The decision to resume the East Coast Rail Link (ECRL) project after nine months of negotiations was timely, as it will become a catalyst for the equity market since the external environment has been very volatile, says Bank Islam Malaysia Bhd.

Palm oil may stabilize around a support at 2,191 ringgit per tonne and retest a resistance at 2,227 ringgit. The support and the resistance are identified as the 50 percent and the 61.8 percent retracements of the downtrend from 2,344 ringgit to 2,038 ringgit.

Ravshan Usmanov, the Uzbek Ambassador in Kuala Lumpur, has held talks with Teresa Kok, the Minister of Primary Industries of Malaysia.