KUALA LUMPUR, Feb 24 — Malaysia and China will further strengthen collaboration in palm oil supply chains, technological innovation, and market expansion this year, said Deputy Plantation and Commodities Minister Datuk Chan Foong Hin.
He elaborated that both countries would also work together to enhance industry upgrading and expand the value of palm oil applications in food, high-end personal care products, pharmaceuticals, and renewable energy.
“Particularly in research and development and market transformation, the Malaysian Palm Oil Board (MPOB) is deepening cooperation with Chinese universities, research institutions, and enterprises.
“Our joint efforts are developing more nutritious edible palm oil, healthier personal care products, and more environmentally friendly biofuels, ensuring these innovations reach the market swiftly,” he said in his speech at the official opening of the Malaysia-China 30 Chief Executive Officers Forum on Oils and Fats yesterday.
The forum was organised by the Ministry of Plantation and Commodities in partnership with Beijing Heyirong Invest Group, co-organised by the China- Malaysia Qinzhou Industrial Park and supported by the Dalian Commodity Exchange (DCE) and Shanghai Bairong Industrial Co Ltd.
The forum provided a platform for top business leaders and experts to exchange insights and foster deeper cooperation in the oils and fats industry.
Beijing Heyirong Invest Group is one of the largest palm oil importers among Chinese local companies, with an annual import volume of 300,000 tonnes of refined, bleached and deodorised (RBD) palm olein and RBD palm stearin.
Chan also said that through co-development with China’s food processing, fast-moving consumer goods (FMCG), and renewable energy companies, the ministry aimed to accelerate the commercialisation of high-value palm oil products, allowing Chinese consumers to enjoy superior-quality palm oil products sooner.
“Malaysia remains committed to providing Chinese enterprises with a stable and high-quality supply, and the business leaders present today are the driving force behind the growth of Malaysia-China palm oil trade.
“Thus, we hope to further enhance supply chain collaboration, whether in long-term procurement strategies or brand promotion in China’s consumer market, working together to broaden the application of palm oil products across China,” the deputy minister added.
Citing a report on palm oil, Chan pointed out that in 2024, Malaysia’s exports of palm oil and palm-based products to China reached a value of RM10.57 billion.
“Among these, the export volume of palm kernel oil saw a significant increase of 40 per cent, mainly supplied to China’s oleochemical industry to produce surfactants. We sincerely appreciate the long-term support from China’s oil and fat industry,” he concluded. — Bernama