Malaysian exports of palm oil and related products total US$22bn in Jan-Nov 2024
06/01/2025 (Oils and Fats International) - Malaysian exports of palm oil and related products totalled US$22bn (MYR99.3bn) in January-November 2024, an increase of US$2.8bn (MYR12.5bn) compared to the same period the previous year, The Edge Malaysia wrote.
Seven markets had collectively contributed 54.4% of Malaysia’s total palm oil exports for the first 11 months of 2024, Plantation and Commodities Minister Johari Abdul Ghani was quoted as saying in the 17 December report.
“For the January to November 2024 period, India remains the largest market for Malaysian palm oil with 2.9M tonnes (18.5%), followed by China (1.3M tonnes), the European Union (1.2M tonnes), Kenya (1.1M tonnes), Turkey (832,000 tonnes), the Philippines (611,000 tonnes), and Japan (553,000 tonnes),” Johari said in his speech during the 2024 Malaysian Palm Oil Board (MPOB) Excellence Awards Ceremony held in Bangi, Selangor, on 16 December.
“To date, palm oil is the third largest contributor to the country’s export value, after the electrical and electronics (E&E) sector and the oil & gas sector.”