Latest news with #MinistryofPlantationandCommodities
BusinessToday
27-05-2025
- Business
- BusinessToday
Malaysia Eyes Deeper Palm Oil Trade Ties With China In Strategic Trade Mission
Malaysia is set to strengthen its foothold in the Chinese palm oil market through a high-level trade mission to China led by Deputy Plantation and Commodities Minister Chan Foong Hin. The visit, from May 18 to 24, aims to unlock new commercial opportunities and expand Malaysia's palm oil exports, particularly in emerging western Chinese markets such as Chengdu and Chongqing, the Ministry of Plantation and Commodities announced. Joining Chan on the mission are Secretary General Yusran Shah Yusof and Malaysian Palm Oil Board (MPOB) Director General Ahmad Parveez Ghulam Kadir. The delegation will begin its journey in Shanghai, where Chan will officiate the 20th anniversary of the MPOB's Palm Oil Research and Technical Service Institute (PORTSIM), a vital hub for innovation and market development in China. PORTSIM collaborates with Chinese institutions to promote palm-based products across sectors, including food, oleochemicals, and household items. The institute plays a critical role in encouraging palm oil use in Chinese cuisine, particularly in popular regional dishes like mala hotpot. The delegation's itinerary includes company visits, roundtable discussions with state-owned enterprises and meetings with regional government officials, aimed at broadening trade and investment cooperation. 'Western China represents a growing market for sustainable raw materials,' the ministry said. 'This mission underlines Malaysia's commitment to boosting palm oil exports, supporting green growth, and reinforcing economic ties with China.' China is Malaysia's third-largest palm oil importer, accounting for 10% of Malaysia's total palm oil export value in 2024. Last year, Malaysia's palm oil exports to China grew 5.11% to RM10.57 billion, capturing a 26.7% market share of China's total palm oil imports. The strategic push into China comes amid shifting global trade dynamics, with Malaysia recently signalling plans to recalibrate its palm oil export strategies following new tariff measures imposed by the US. Related
Borneo Post
24-05-2025
- Business
- Borneo Post
Sabah cocoa production on the rise
Ramle (left) and Matbali speaking to reporters after the walkabout. KOTA KINABALU (May 24): Sabah has recorded a rise in cocoa production, attributed to sustained government assistance and initiatives aimed at supporting local farmers. Malaysian Cocoa Board (LKM) director-general Datuk Dr Ramle Kasim said that although he did not have the exact figures on hand, production has notably increased compared to a decade ago. 'This can be seen with current cocoa prices nearing RM30,000 per tonne. We foresee this figure continuing to rise,' he said. He credited the increase to various government efforts, particularly at the upstream level, in helping cocoa farmers improve productivity and livelihoods. 'The Ministry of Plantation and Commodities (KPK), through LKM, has been providing aid for cocoa planting, rehabilitation and other forms of assistance to boost production and strengthen the economic standing of our target groups,' Ramle told reporters after a walkabout at the Sabah International Convention Centre on Friday in preparation for the Malaysian International Cocoa Fair (MICF). He added that LKM remains committed to ensuring cocoa farmers in Sabah are supported and actively working to uplift the state's cocoa industry. Meanwhile, Ramle said more than 25,000 visitors are expected to attend the four-day MICF, driven by extensive promotional efforts. The event will feature 160 booths showcasing various cocoa-based products and information, including participation from international exhibitors from China, Singapore, Europe and Africa. In addition to chocolate, visitors can explore cocoa-based skincare products made from cocoa butter, view exhibitions on advanced chocolate-making machinery from other countries, and enjoy a chocolate-making competition. Also present at the walkabout was LKM chairman Datuk Matbali Musah.
The Sun
02-05-2025
- Business
- The Sun
Malaysia prepares for palm oil tariff talks with US
PUTRAJAYA: Malaysia is making thorough preparations for official tariff negotiations with the United States, with the Ministry of Plantation and Commodities (KPK) emphasising the need to protect the interests of the country's commodities sector, particularly palm oil. Its minister, Datuk Seri Johari Abdul Ghani, stated that although the United States is not the largest buyer of Malaysian palm oil products, exports to the country remain significant and strategically valuable. 'We have provided all relevant facts and information to the Ministry of Investment, Trade and Industry (MITI) to be used in the upcoming negotiations. For example, with regard to palm oil, even though the United States is not a major buyer, we still export nearly RM4.9 billion annually to that market,' he told reporters at the Silver Jubilee Gala Night of the Malaysian Palm Oil Board (MPOB). Johari said Malaysia's largest export markets for palm oil currently are Europe, India, and China, which collectively contribute over 40 per cent of total exports. 'But we cannot disregard the United States, because in addition to palm oil, we also export rubber gloves - more than RM8 billion annually, wood products - nearly RM6.5 billion, and cocoa at around RM1.6 billion. Total commodity exports to the United States alone amount to about RM20 to RM21 billion,' he noted. He added that these figures highlighted the importance of the negotiations for the national commodities sector, which records total annual exports of around RM186 billion worldwide. The minister noted that Malaysian palm oil products currently face a 10 per cent tariff plus an additional 24 per cent in the United States, compared to Indonesia, which faces a 10 per cent tariff plus an additional 32 per cent. 'In this regard, we have a slight advantage over Indonesia. But this advantage doesn't mean we can be complacent. We must also continue to strengthen trade relations with other countries,' he said. He stressed the need to continue engagement and diplomacy efforts with major buyers worldwide, given the large demand and market capacity beyond the United States. Earlier, MITI announced the appointment of Deputy Secretary-General (Trade) Mastura Ahmad Mustafa as Malaysia's chief negotiator in the official tariff talks with the United States, with the US naming an Assistant US Trade Representative (USTR) to lead their side. According to MITI Minister Tengku Datuk Seri Zafrul Abdul Aziz, the negotiations are expected to focus on tariff reduction and non-tariff barriers - especially in the agricultural sector - as well as addressing the current bilateral trade imbalance, which stands at US$25 billion.
