ISLAMABAD: Malaysia is keen to expand its palm oil market in Pakistan.
A statement by the Ministry of Primary Industries in Malaysia, following the minister’s visit to Pakistan, said: “Pakistan is one of Malaysia’s most regular and dependable buyers of local palm oil and products,” Malaysian Primary Industries Minister Teresa Kok said,
The Malaysian minister met Prime Minister Advisor for Commerce, Textiles, Industry and Production and Investment Abdul Razak Dawood during an official visit to Pakistan.
“In 2018, Pakistan imported 1.16 million metric tons of palm oil from Malaysia valued at RM2.97 billion ($730 million). Avenues were discussed to further expand Malaysian palm oil share in this growing market,” the statement added.
The Malaysian ministry said that Pakistan is among the first export destinations in which Malaysia has major investments in bulking installation and refineries and the liquid cargo jetty dedicated for the handling of palm oil.
This development comes after new restrictions imposed by India on palm oil imports.