KUALA LUMPUR (Commodity Online) : Malaysia’s palm oil exports fetch a record 49.6 billion ringgitt last year following an increase in the production of the commodity.

According to country’s ministry of Plantation Industries and Commodities, the increase in production contributed to the total export of palm oil products of 15.87 million tones.



Encouraging achievement of the country's oil palm industry is also attributed to the progress in research and quality control undertaken by the MPOB, the ministry added.

"The strategic approach being implemented by the government in the area of research and development, has succeeded in yielding a new innovation which has had an impact on enhancing the prestige of the palm oil industry," the ministry said.

It was reported earlier that the export of palm oil products is expected to exceed 100 billion ringitt in 2020 following initiatives to effectively enhance production.

In 2008, the export of palm oil products was worth 65.2 billion ringgitt. The area under palm oil cultivation has also increased by 4.5 per cent to reach 4.69 million hectares last year.

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