Malaysian palm oil exports to the EU rose 9.5% to 2.09 million tonnes from 1.91 million tonnes in 2018. This was due to low imports of palm oil from Indonesia by 13.2% to 2.78 miliion tonnes during January-October 2019 and higher usage of palm oil as biodiesel feedstock due to insufficient supply of domestic rapeseed oil.
How has Malaysian oil palm industry performed in 2019?
The Malaysian oil palm industry in 2019 has shown a better performance as compared to that of in 2018. Improvements witnessed in key performance indicators, namely crude palm oil production, exports and palm oil stocks.
Why is Malaysia the world’s second largest producer and exporter of palm oil?
Malaysia¡¯s position as the world¡¯s second largest producer and exporter of palm oil after Indonesia attests to the economic importance of palm oil to the country. This article aims to provide a comprehensive review of the Malaysian palm oil industry, highlighting its potential applications in various fields of study.
Why is palm oil important to Malaysia?
Palm oil plantations have rapidly developed over the past five decades in nations with tropical climates due to high demand for the product. Malaysia¡¯s position as the world¡¯s second largest producer and exporter of palm oil after Indonesia attests to the economic importance of palm oil to the country.