Downstream Palm Oil Products Worth RM47 Billion Sold In Local Market From 2022-2024
27/02/2025 (Business Today) - Approximately 11.28 million tonnes of palm oil downstream products, equivalent to RM47.76 billion, had been sold or distributed in the local market from 2020 to 2024, based on statistics from the Malaysian Palm Oil Board, said the Plantation and Commodities Ministry (KPK).
In a written reply posted on Parliament’s website today to Temerloh MP Salamiah Mohd Nor’s query, the board said the products of the palm oil downstream industry included oleochemical products, biodiesel, and finished/end products.
The ministry said the sales of downstream palm oil products in the local market in 2020 were 2.18 million tonnes worth RM5.69 billion, 1.91 million tonnes (RM9.12 billion) in 2021, 2.20 million tonnes (RM11.89 billion) in 2022, 2.58 million tonnes (RM12.09 billion) in 2023, and 2.42 million tonnes (RM8.97 billion) in 2024.
“For the export market, the sales revenue of downstream palm oil products from 2020 to 2024 was 18.93 million tonnes, equivalent to RM112.63 billion.
“The export sales of downstream palm oil products in 2020 were 4.05 million tonnes worth RM16.65 billion, 3.81 million tonnes (RM22.76 billion) in 2021, 3.60 million tonnes (RM29.33 billion) in 2022, 3.64 million tonnes (RM20.91 billion) in 2023, and 3.84 million tonnes (RM22.98 billion) in 2024,” it said.
Among the strategic measures that had been implemented were research and development, sustainability certification, infrastructure and technology improvement, strategic partnerships with trading partner countries, and continuous marketing.