27.04.2023 (Malaya Business Insight)  - KUALA LUMPUR – Malaysia’s exports of palm oil and palm-based products to China are expected to increase this year following better cooperation between the two countries, the Malaysian Palm Oil Board (MPOB) said on Tuesday.

China was Malaysia’s second largest palm oil export market in 2022 and accounted for 11.2 percent of Malaysia’s exports, according to MPOB data.

An agreement between MPOB and the China Chamber of Commerce of Import and Export of Foodstuffs, Native Produce, and Animal By-products (CFNA) earlier this month will broaden cooperation and strengthen Malaysia’s position in the Chinese market, MPOB said in a statement.

Malaysian palm oil and rubber smallholders earlier filed a petition to the European Union to protest against a new law preventing imports into the bloc of commodities linked to deforestation risks.

The EU in December agreed on a deforestation law that requires companies to produce a due diligence statement showing when and where their commodities were produced and provide “verifiable” information that they were not grown on land deforested after 2020, or risk hefty fines.

Indonesia and Malaysia, the world’s largest palm oil exporters, have accused the EU of blocking market access for their palm oil.

Malaysia’s Commodities Ministry told parliament it plans to spend 10 million ringgit ($2.23 million) in 2023 to counter what they call an anti-palm oil campaign, and is seeking an additional 10 million ringgit. – Reuters

https://malaya.com.ph/news_business/malaysian-palm-oil-board-sees-higher-exports-to-china/