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Malaysia to double palm oil export to Russia

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Staff writer ▼ | September 18, 2013
Palm oilMalaysia aims to increase its palm oil market share in Russia from the current 14 percent to 25 percent in the near term. Russia's production of oils and fats is insufficient to meet the demand from its 143 million people.

Minister of Plantation Industries and Commodities Datuk Seri Douglas Uggah Embas said focus will be given on the food industry, oleochemicals and biodiesel as well as on increasing Malaysia's participation in the blended oil market segment in Russia.

"This includes promotion of Novelin (a blended cooking oil for the Russian market). Similarly, the potential of palm oil in oleochemicals for application in household and toiletry products as well as the prospects of palm kernel cake application in animal feed in Russia would also be highlighted," said Mr. Embas after launching the Palm Oil Trade Fair and Seminar (POTS) organised by the Malaysian Palm Oil Council (MPOC).

Palm oil imports by Russia have increased from an average of 150,000 tonnes annually to 626,000 tonnes in 2012 with Malaysia supplying 14 percent. Palm oil currently accounts for 69 percent of the total oils and fats imported by Russia, and is the second most popular vegetable oil consumed in the country after sunflower oil.

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