The value of Malaysia’s palm oil exports increased by 26.9% to RM17.12 billion for the period January-April compared to RM13.49 billion in the same period in 2020. Plantation industries and commodities minister Mohd Khairuddin Aman Razali said the factors that contributed to the increase in value were rising prices of palm oil and other competing fats in the world market.
He said the ministry was confident that the palm oil export target of RM75 billion this year could be achieved with the support of its new programmes. The programmes are additional initiatives in the form of matching grants of RM20 million through 65 sustainable oil palm growers cooperatives (KPSM) and matching grants of RM30 million to encourage investment in mechanisation and automation.