KUALA LUMPUR, July 15 – Malaysia has secured over RM230 million in palm oil trade deals during Deputy Plantation and Commodities Minister Datuk Chan Foong Hin’s recent working visit to China.

In a statement, the Ministry of Plantation and Commodities (KPK) said Chan’s visit from July 8-12 to promote Malaysian agri-commodities in China has resulted in the signing of four memoranda of understanding (MoUs).

“The four MoUs were signed between Malaysian palm oil companies and businesses in China at the 15th China International Cereals and Oils Industry Summit in Nanjing on July 11, 2024,” it said.

KPK said the four MoUs signed were between Kuala Lumpur Kepong Bhd and BOCE Trade Service Co Ltd for tocotrienol exports; between Taobao (China) Software Co Ltd and Able Perfect Group for expanding digital market access; between Taobao (China) Software Co Ltd and Sawit Kinabalu Group for crude palm oil trade; and between JF Nutritech and Palmort Food Tech (Shanghai) for the application of red palm oil in animal feed.

Chan witnessed the MoU signing ceremony together with the Malaysian Palm Oil Board director-general Datuk Ahmad Parveez Ghulam Kadir and China Chamber of Commerce for Import/Export of Foodstuffs, Native Produce, and Animal By-products (CFNA) president Cao De Rong.

The minister noted that Able Perfect, an independent palm oil refinery based in Port Klang, aims to expand its presence in the Chinese market, particularly in refined palm oil and palm shortening, with an estimated business volume of about RM200 million via this trade deal.