Malaysia is seeking to export more palm oil to Kenya when palm oil prices have increased due to disruptions in the global supply chain.
Speaking during the East African Summit, the Malaysian Palm Oil Council revealed that 95 per cent of the country’s crude palm imports come from Asian countries.
Malaysian deputy prime minister Dato Sri Haji Fadillah Bin Haji Yusof underscored the importance of the Malaysia-Kenya trade relationship, observing that Kenya is a vital market for Malaysian palm oil in the East Africa region.
“Today’s event underscores the importance of Kenya as a trade partner. Kenya holds immense significance in the palm oil industry as demonstrated by statistics as the fifth largest destination for our nation’s palm oil export with a volume exceeding 763,000 tons in 2022,” he said.
The forum also included well-known local business community representatives and foreign specialists from Malaysia, Europe, and Kenya.
Chairman of Bidco Industrial Guru Vimal Shah urged the government to maintain attractive conditions in the excise duty industry to increase output.
Kenya became the world's ninth-largest importer of palm oil in 2021, bringing in 1.26 billion dollars worth of the commodity.
Following that, palm oil from Malaysia, Indonesia, Thailand, Singapore, and the Philippines was the second-most imported good in Kenya.
