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NEWS ADMIN

Mahamad Rodzi Abdul Ghani

DATE

08/01/2003

NEWS PROVIDER

Mahamad Rodzi Abdul Ghani

NEWS SOURCE

NULL

CATEGORY

HEADLINE

China to buy 2.5m tons of Malaysian palm oil in 20
01/03/2003 (NSTP) - CHINA yesterday announced the 2003 import quota for atotal of 26.3 million tonnes of grains and other agricultural productsincluding wheat, rice and palm oil.The Government said China will import a total of 2.5 million tonnes ofpalm oil in 2003.China, along with India, Pakistan and the European Union, is one of thebiggest buyers of Malaysian palm oil.Malaysia is the world's largest palm oil producer, accounting for a totalof 11.8 million tonnes of palm oil in 2001.For the first 10 months of last year, China bought a total of 1.4 milliontonnes of Malaysian palm oil and it is expected to reach 1.8 milliontonnes for the full year.Yesterday, the January crude palm oil futures price on the Malaysian PalmOil Board closed at RM1,670 a tonne.