China Set To Buy Additional Malaysian Palm Oil Worth RM4.56 Bln

KUALA LUMPUR, April 25 -- Malaysia and China Thursday signed a memorandum of understanding (MoU) in Beijing for the republic's purchase of an additional 1.9 million tonnes of Malaysian palm oil, with an estimated value of RM4.56 billion, over a five-year period (2019 - 2023). The signatories were the Malaysian Palm Oil Council (MPOC), an agency under the Primary Industries Ministry, and China Chamber of Commerce of Foodstuffs and Native Produce (CFNA) under China's Commerce Ministry. The signing ceremony was witnessed by Prime Minister Dr Mahathir Mohamad and Chinese Premier Li Keqiang. The MoU's main objective is to enhance trade and cooperation in the palm oil sector between China and Malaysia. -- BERNAMA