Lang
Malaysia’s exports of palm oil and related products reached $22 billion, or RM99.3 billion, during the January–November 2024 period.
This represented an increase of $2.8 billion, or RM12.5 billion, compared with the same period of the previous year.
Plantation and Commodities Minister Johari Abdul Ghani said in a December 17 report that seven markets collectively accounted for 54.4% of Malaysia’s total palm oil exports during the first eleven months of 2024.
Speaking at the Malaysian Palm Oil Board (MPOB) Excellence Awards 2024 ceremony in Bangi, Selangor, on December 16, Johari said India remained the largest market for Malaysian palm oil during January–November 2024.
India imported 2.9 million tonnes, accounting for 18.5% of exports.
It was followed by China with 1.3 million tonnes, the European Union with 1.2 million tonnes, Kenya with 1.1 million tonnes, Turkey with 832,000 tonnes, the Philippines with 611,000 tonnes, and Japan with 553,000 tonnes.
Johari added that palm oil currently ranks as the third-largest contributor to Malaysia’s export value, after the electronics and electrical sector and the oil and gas sector.