Malaysia estimates 2020 palm oil exports will reach RM65-70b

[KUALA LUMPUR] The world's second largest palm oil producer Malaysia has estimated its total palm oil export value this year at RM65-70 billion (S$21.22 billion-$22.9 billion), the Plantation Industries and Commodities Ministry said.

This is up from RM63.73 billion in palm oil exports achieved last year, minister Mohd Khairuddin Aman Razali told parliament on Thursday.

"The Ministry is optimistic that this target can be achieved, taking into account the current export value from January to June 2020, which is RM32.47 billion," he said.

Palm oil exports in the same period last year were RM31.92 billion, he said.

REUTERS