Saudi Arabia has pledged to increase Malaysian palm oil imports to as much as 1.5 billion ringgit ($364 million) in value this year from 900 million ringgit in 2020, according to Plantation Industries and Commodities Minister Mohd Khairuddin Aman Razali.
The kingdom has shown commitment to boost imports of the edible oil from 318,000 tons in 2020 to 500,000 tons this year, the Malaysian minister said in a statement on Saturday.
The move follows recent negotiations between Malaysia and Saudi Arabia to bolster trade and investments. Malaysia plans to open a regional agri-commodity office in Jeddah that will be used ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.