The MPOC chairman projected an optimistic outlook for palm oil production in Malaysia, forecasting output to reach at least 19-19.2 million tonnes in 2024, marking a substantial increase from the previous year’s figures.
Is Malaysia optimistic about palm oil exports to India?
Get them on our Telegram channel Malaysia remains optimistic about palm oil exports to India despite recent import duty hike, with the Malaysian Palm Oil Council (MPOC) Chairman Dato Carl Bek Nielsen emphasizing the long-standing trade relationship between the two countries.
Why are Bangladesh’s consumers switching from soybean oil to palm oil?
Bangladesh’s consumers have increased consumption of palm and mustard oil as many of them have switched from soybean oil due to its rising prices, according to a recent report by the US Department of Agriculture (USDA).
Is palm oil a substitute for soybean oil in Bangladesh?
The US agency said soybean oil and palm oil are substitute products in Bangladesh. Most middle and high-income households prefer soybean oil while low-income consumers prefer palm oil due to its lower price. "Palm oil also has industrial uses, particularly in the food processing industry," it said.