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Top palm oil firms facing EU firing rethink trade strategy
Major producers in Indonesia and Malaysia are looking at new markets ranging from Africa to Myanmar
Published Wed, Sep 13, 2017 · 09:50 PM
Kuala Lumpur
FACING a backlash in Europe over palm oil's environmental toll, the world's top producers are scrambling to find new markets and even striking unusual barter deals, such as exchanging Sukhoi jets for the edible oil.
The European Union is the second-largest palm oil export destination after India for both Malaysia and Indonesia, which dominate production in a global market worth at least US$40 billion.
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