Kuala Lumpur: Malaysia is looking to expand its palm oil export market and explore new opportunities in biomass energy generation, particularly in Japan, said Deputy Plantation and Commodities Minister Datuk Chan Foong Hin, reports The Star.
Speaking in the Dewan Rakyat on Wednesday (Feb 12), Chan highlighted Japan as a potential market for Malaysia’s biomass industry. “Our top six export destinations for palm oil are India, China, the European Union, Kenya, Turkiye, and the Philippines. These countries account for more than half of Malaysia’s palm oil export market,” he said.
However, he pointed out that Malaysia will be participating in the World Expo in Osaka this year, presenting an opportunity to promote biomass as a renewable energy source. “This is a market we should explore for biomass-based renewable energy, but rather than just exporting raw materials, we should focus on value-added services like biomass pellet production,” he added.
Chan was responding to Nurul Amin Hamid (PN-Padang Terap), who asked if Malaysia would explore Asian markets, particularly Japan, for palm oil-based energy innovations.
In addition to exploring Japan’s biomass market, Malaysia is also strengthening its palm oil trade with Central Asia and Pakistan.
Chan revealed that Malaysia exported 54,665 tonnes of palm oil and palm products worth RM288.23 million to five Central Asian countries: Uzbekistan, Kazakhstan, Tajikistan, Kyrgyzstan, and Turkmenistan.
Meanwhile, Pakistan remains one of Malaysia’s top 10 palm oil importers, having purchased 860,260 tonnes of palm oil and palm-based products last year. “This affirms the strong bilateral trade ties between Malaysia and Pakistan,” he said.
Chan noted that Pakistan’s strategic location makes it a key gateway to the Middle East for Malaysian palm oil. “Pakistan is a price-sensitive market, and to improve trade efficiency, we have engaged with the Port Qasim Authority in Karachi,” he said.
During a recent visit, discussions focused on leveraging Pakistan’s port infrastructure to enhance palm oil distribution. “Using Port Qasim’s facilities will reduce transit time and costs, making Malaysian palm oil exports to the Middle East more efficient,” he explained.
Depending on market conditions, Malaysia’s palm oil exports are expected to account for 18-25% of Pakistan’s total palm oil imports.
Chan was responding to Datuk Mohd Isam Mohd Isa (BN-Tampin), who asked about the ministry’s latest efforts to expand Malaysia’s palm oil dominance in Central Asia and Pakistan.
With new market strategies in place, Malaysia is set to strengthen its global position in the palm oil industry, while also tapping into biomass-based energy opportunities in Japan.
