Exports of palm oil and related products reached RM99.3 billion from January to November 2024, marking a strong increase of RM12.5 billion compared to last year.
Plantations and Commodities Minister Datuk Seri Johari Abdul Ghani revealed that seven countries contributed more than half of the total exports during this period.
India led the demand with 2.9 million tonnes, followed by China, the European Union, Kenya, Turkey, the Philippines, and Japan.
Johari is confident that palm oil exports will continue to grow, calling it the country's third largest export contributor, trailing behind the electrical and electronics (E&E) and oil & gas sectors.
He also highlighted the growing global need for palm oil, especially as the world's population grows and food security becomes a greater concern.
He said Malaysia's role as the world's second-largest palm oil producer provides the best opportunity to increase production.
With Malaysia taking on a leadership role in the Council of Palm Oil Producing Countries (CPOPC) next year, it plans to address negative perceptions about palm oil and highlight its benefits for food security and health.
Malaysia’s efforts in palm oil production have been recognised internationally, adding value to the country’s growing palm oil industry.
