4 days ago
- Business
- New Straits Times
MPOC: RM122mil in trade deals unlocked in Philippines forum
KUALA LUMPUR: Business engagements at the Malaysian Palm Oil Forum (MPOF) Philippines 2025 have unlocked an estimated RM122 million in potential trade, reinforcing Malaysia's role as a major palm oil supplier in the Asean region.
The two-day event, held in Manila from June 3 to 4 and hosted by the Malaysian Palm Oil Council (MPOC), brought together over 400 participants and featured targeted BizMatch sessions.
In a statement, MPOC said that this year marked the first time the council co-organised the forum with the Malaysian Oleochemicals Manufacturers Group and the United Coconut Association of the Philippines, further strengthening regional ties in the oils and fats sector.
These one-on-one meetings between 16 Malaysian palm oil suppliers and buyers from the Philippines resulted in 121 business discussions aimed at securing commercial deals.
MPOC chief executive officer Belvinder Sron said the Philippines remains one of Malaysia's most important trade partners in the Asean region.
"In 2024, the Philippines imported around 1.1 million tonnes of palm oil, with Malaysia supplying 61 per cent of its palm oil, solidifying its role as the top supplier," she said.
She said that the strategy is focused on Asean, Africa, and the Middle East and has already yielded results, with exports to these regions growing by 24 per cent, from 6.0 million tonnes in 2020 to 7.5 million tonnes in 2024, marking a shift in Malaysia's export landscape.
Belvinder expressed encouragement over the strong level of interest shown by Filipino buyers in the BizMatch outcomes.
"BizMatch platform continues to be a powerful tool in creating real commercial opportunities for Malaysian exporters and helping buyers find reliable, high-quality suppliers committed to sustainability and value," Belvinder added.
Malaysia's ambassador to the Philippines, Datuk Abdul Malik Melvin Castelino, emphasised the importance of deepening bilateral trade.
The forum included eight expert presentations on themes such as sustainability, downstream applications, nutrition, and global market outlooks.
A key discussion panel, "Lauric Oils & Oleochemicals: Market Growth and Innovations", explored emerging trends in the Philippines, a growing market for lauric oils like palm kernel and coconut oil.
