17/06/2008 (NST Online) - Export revenue from Malaysian palm oil products is projected to exceed RM50 billion this year compared to a record high of RM45.6 billion in 2007, Plantation Industries and Commodities Minister Datuk Peter Chin Fah Kui said today.

Buoyant palm oil prices last year contributed to the increase in export revenue, he said while officiating the Malaysian Palm Oil Board’s Seminar on Transfer of Technology here.

Chin said that China remained the largest importer of Malaysian palm oil products last year.

If the bullish trend in palm oil prices is maintained and superior clones are utilised extensively in plantations, the palm oil industry will be the country’s biggest revenue earner, he said.