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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
New Straits Times
18-05-2025
- Business
- New Straits Times
Malaysian delegation in China to boost ties in palm oil sector
KUALA LUMPUR: Malaysia is strengthening its strategic trade ties with China through a week-long official mission led by Deputy Minister of Plantation and Commodities Datuk Chan Foong Hin, aimed at unlocking new market potential for palm oil and promoting innovation in downstream products. The mission, which runs from today until May 24, will focus on enhancing bilateral commercial cooperation, expanding palm oil applications in Chinese industries and cuisines, and deepening Malaysia's presence in the high-growth markets of Western China. In a statement today, the Plantation and Commodities Ministry said the delegation will begin its visit in Shanghai, where Chan will officiate the 20th Anniversary Commemoration Ceremony of the Palm Oil Research and Technical Service Institute of MPOB (PORTSIM) – the China office of the Malaysian Palm Oil Board (MPOB). The Ministry of Plantation and Commodities secretary-general Datuk Yusran Shah Mohd Yusof and MPOB director general Datuk Dr Ahmad Parveez Ghulam Kadir, will also be in attendance. Established in 2005, PORTSIM serves as Malaysia's overseas research and development hub, facilitating technology transfer, product innovation and the development of new palm oil applications in China. The ministry said that through strategic collaborations with Chinese institutions and industries, PORTSIM plays a vital role in promoting palm-based products, including food, oleochemicals, and detergents, contributing significantly to Malaysia's downstream expansion in the Chinese market. Following the Shanghai leg, it said the delegation will travel to Western China, including the cities of Chengdu and Chongqing, to conduct company visits and roundtable discussions with state-owned enterprises and local industry stakeholders. The ministry said these engagements aim to enhance strategic collaboration and expand trade networks, with a particular emphasis on promoting palm oil applications in popular Chinese cuisines, such as mala hotpot, a renowned dish from Chongqing and Sichuan province. "A key highlight of the visit will be Chan attending the 7th Western China International Fair for Investment and Trade (WCIFIT) and hosting the roundtable meetings with importers from Western China, held at the Chongqing International Expo Centre," it said. In addition, the ministry said he will hold a courtesy meeting with the Chongqing Municipal People's Government to explore broader cooperation in trade and investment, with a focus on the palm oil industry and other key Malaysian commodities. The meeting will also discuss expanding partnerships in Western China, a region experiencing robust market growth and increasing demand for sustainable raw materials. China is Malaysia's third-largest importer of palm oil and palm-based products globally, accounting for 10 per cent of the total palm oil export value in 2024. Last year, Malaysia's exports of these products to China reached RM10.57 billion, marking a 5.11 per cent increase from RM10.06 billion in 2023. According to Oil World statistics (2024), Malaysia accounts for 26.7 per cent of the market share in China. The ministry said this official visit underscores Malaysia's commitment to deepening economic ties with China, enhancing market access for palm oil products, and supporting sustainable growth across key export sectors.
