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

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.
Source: Reuters (Reporting by Mei Mei Chu; Editing by Muralikumar Anantharaman)

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