Published on 16/07/2020 10:48:15 AM | Source: Reuters

Malaysia estimates 2020 palm oil exports will reach $15.2 billion-$16.4 billion

Posted in Commodity Top News| #Import Exports #Palm Oil #Commodity #Malaysia

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel 

Download Telegram App before Joining the Channel

KUALA LUMPUR - The world's second largest palm oil producer Malaysia has estimated its total palm oil export value this year at 65-70 billion ringgit ($15.24 billion-$16.41 billion), the Plantation Industries and Commodities Ministry said.

This is up from 63.73 billion ringgit 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 32.47 billion ringgit," he said.

Palm oil exports in the same period last year were 31.92 billion ringgit, he said.

($1 = 4.2650 ringgit)

(Reporting by Mei Mei Chu; Editing by Muralikumar Anantharaman)