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China - potential market for Malaysian palm oil

China will not set any limit on the import of Malaysian palm oil and palm-based products, The Star newspaper quoted Chinese Ambassador to Malaysia Bai Tian as saying on February 3.
Hanoi (VNA) – China will not set anylimit on the import of Malaysian palm oil and palm-based products, The Starnewspaper quoted Chinese Ambassador to Malaysia Bai Tian as saying on February3.

The diplomat told Malaysia’s Minister ofPlantation Industries and Commodities Mah Siew Keong at their meeting thatChina needs roughly 8.25 million tonnes of biodiesel per year while itsbusinesses could only meet a small portion of 300,000 tonnes.

China is encouraging more firms to invest in thebiomass field in Malaysia, he added.

Minister Mah Siew Keong said China has overtakenIndia to become the second biggest importer of Malaysia’s palm oil andpalm-based products.

In the first 11 months of 2017, Malaysiaexported nearly 8.52 billion RM (nearly 2.2 billion USD) worth of palm oil toChina, representing a year-on-year rise of 9.8 percent.

China also surpassed the US and the EU to becomeMalaysia’s top export destination of rubber and rubber products. The SoutheastAsian country earned 7.45 billion RM from selling rubber and rubber products toChina in January-November 2017, up 76 percent against the previous year.-VNA
VNA
#Malaysia#palm oil#palm-based products#China#Chinese Ambassador to Malaysia Bai Tian#Malaysia’s Minister of Plantation Industries and Commodities#Mah Siew Keong#China-Malaysia relations#updated Vietnam news#Vietnamplus#Vietnam News Agency
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