PALM NEWS MALAYSIAN PALM OIL BOARD Wednesday, 19 Jun 2024

Jumlah Bacaan: 249
MARKET DEVELOPMENT
Malaysia wants chunk of China's palm oil market
calendar30-01-2002 | linkNULL | Share This Post:

KUALA LUMPUR, Jan. 28 (Dow Jones) - Malaysia wants to supply a big chunkof the 2.4 million metric tons of palm oil China plans to import thisyear, Primary Industries Minister Lim Keng Yaik was quoted by the Bernamanews agency as saying Monday.As part of its obligations under the World Trade Organization, China hasagreed to allow the import of 2.4 million tons of palm oil this year, butthe agencies that will import the palm oil or the individual quotas foreach one of them are yet to be announced.The Bernama report, however, noted that out of the total quota, 1.4million tons have been given to individual importers, 800,000 tons tostate-owned enterprises and 200,000 tons set aside for countertrade.Malaysia has already proposed to award railway construction work toChinese companies and pay for the work in palm oil.When contacted, a source close to the Malaysian Palm Oil Promotion Councilsaid Chinese authorities are expected to issue the quotas before the LunarNew Year next week, but no announcement has been made yet.