China set to buy an additional RM4.56b worth of Malaysian palm oil
A worker unloads palm oil fruit bunches from a lorry inside a palm oil mill in Bahau January 30, 2019. — Reuters pic
This proposed direct purchase of palm oil and palm oil-based products is among the main contents of a memorandum of understanding inked between Malaysia and China in Beijing today, the Primary Industries Ministry said in a statement today. They also intend to work together on trade issues such as encouraging the use of the renminbi for palm oil trade, pending Bank Negara Malaysia’s approval.
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