Malaysia Gets Saudi Pledge to Boost Palm Oil Imports, Plans Hub

March 14, 2021, 4:41 AM

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 ...

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