Kuala Lumpur: Malaysia and China will further strengthen collaboration in palm oil supply chains, technological innovation, and market expansion this year, said Deputy Plantation and Commodities Minister Datuk Chan Foong Hin. He elaborated that both countries would also work together to enhance industry upgrading and expand the value of palm oil applications in food, high-end personal care products, pharmaceuticals, and renewable energy.
According to BERNAMA News Agency, the Malaysian Palm Oil Board (MPOB) is deepening cooperation with Chinese universities, research institutions, and enterprises, particularly in research and development and market transformation. Joint efforts are underway to develop more nutritious edible palm oil, healthier personal care products, and more environmentally friendly biofuels, ensuring these innovations reach the market swiftly. Chan made these remarks during a speech at the official opening of the Malaysia-China 30 Chief Executive Officers Forum on Oils and Fats.
The forum, organised by the Ministry of Plantation and Commodities in partnership with Beijing Heyirong Invest Group, was co-organised by the China-Malaysia Qinzhou Industrial Park and supported by the Dalian Commodity Exchange (DCE) and Shanghai Bairong Industrial Co Ltd. It provided a platform for top business leaders and experts to exchange insights and foster deeper cooperation in the oils and fats industry.
Beijing Heyirong Invest Group is one of the largest palm oil importers among Chinese local companies, with an annual import volume of 300,000 tonnes of refined, bleached, and deodorised (RBD) palm olein and RBD palm stearin. Chan also mentioned that through co-development with China’s food processing, fast-moving consumer goods (FMCG), and renewable energy companies, the ministry aims to accelerate the commercialisation of high-value palm oil products, allowing Chinese consumers to enjoy superior-quality palm oil products sooner.
Malaysia remains committed to providing Chinese enterprises with a stable and high-quality supply, and the business leaders present today are the driving force behind the growth of Malaysia-China palm oil trade. Chan expressed hopes to further enhance supply chain collaboration, whether in long-term procurement strategies or brand promotion in China’s consumer market, working together to broaden the application of palm oil products across China.
Citing a report on palm oil, Chan highlighted that in 2024, Malaysia’s exports of palm oil and palm-based products to China reached a value of RM10.57 billion. Among these, the export volume of palm kernel oil saw an increase of 40 per cent, mainly supplied to China’s oleochemical industry to produce surfactants. Chan expressed appreciation for the long-term support from China’s oil and fat industry.