‘US-China deal could hurt Malaysia palm oil exports to China’

‘US-China deal could hurt Malaysia palm oil exports to China’

KUALA LUMPUR: Malaysia’s palm oil exports to China jumped 33.9% in 2019 to 2.49 million tonnes but Beijing’s latest trade deal with the US could limit gains this year, a Malaysian palm official said today.

“Now with the 1st deal done, China will increase the uptake of US soybean oil,” Malaysian Palm Oil Board’s Balu Nambiappan, a senior official at the government agency, told an industry conference.

The US and China signed an initial trade deal yesterday that would roll back some tariffs and boost Chinese purchases of US products.

Reuters


Tags assigned to this article:
Balu NambiappanMalaysian Palm Oil Boardtrade war