MIRI (Malaysia), Sept 20 (NNN-Bernama) — Malaysia’s palm products export revenue increased significantly for the first six months of this year, totalling 14.05 million tonnes with a value of RM71.02 billion (US$15.6 billion) recorded during the period.
Deputy Minister of Plantation Industries and Commodities Willie Mongin said in the same period last year, the export of the product was recorded at 11.54 million tonnes with a value of RM45.75 billion (US$10 billion).
“This is due to the high demand from importing countries and the high price of palm oil in the market,” he said at the launching of Oil Palm Smallholders National Conference 2022 here Tuesday.
For the whole of 2021, he said Malaysia exported 25.44 million tonnes of palm oil to more than 160 countries, contributing to an export income worth RM108.52 billion (US$23.8 billion).
He said as an agricultural commodity that is oriented toward the export market, the oil palm industry faced various challenges that could threaten the trade of the product abroad.
“It is important for all parties in the industry to work together to address this challenge which will make the country’s oil palm industry more mature and competitive,” he said.
Willie said the usage of technology in the oil palm plantation sector, in addition to good agricultural practices and sustainable production, could have an impact on increasing yields and strengthening the industry’s competitiveness.
— NNN-BERNAMA