China to buy additional 1.9 mil tonnes of Malaysian palm oil over 5 years

(Bernama) – China will buy an additional 1.9 million tonnes of palm oil from Malaysia over the next five years, Malaysia’s state news agency Bernama said today, citing the minister of primary industries.

China is Malaysia’s third largest palm oil buyer, and imported 1.9 million tonnes from the country last year.

Malaysia has been trying to reduce its palm oil stockpiles, which hit the highest in at least 19 years last December, in a bid to shore up prices.