Malaysia sends palm oil economic mission to Saudi Arabia
Malaysia is conducting a five-day Palm Oil Economic Mission to Saudi Arabia beginning Monday to discuss the commodity issue, as well as to promote its timber and furniture. — Reuters pic
The effort is also aimed at ensuring the country’s palm oil stockpile of 3.2 million tonnes can be sold to the existing and new markets and create a healthy supply chain and demand in order to increase the market price of the commodity, he added. Meanwhile, Shamsul Iskandar said the country’s total trade value with Saudi Arabia last year reached RM21.67 billion, up 45.2 per cent compared to 2017, and it is hoped that the mission would help boost the trade value.
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