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Malaysia suggests Ukraine cooperation in re-export of palm oil to Europe
Malaysia is interested in development of cooperation with Ukraine in promotion of its palm oil not only into local market, but into European market as well, and views Ukraine as a prospective re-exporter of this product to EU countries through Odessa Trading Seaport, Malaysian Deputy Minister for Raw Material Industries Anfikh bin Aman said at Ukrainian-Malaysian business forum in Kiev on Wednesday, Interfax-Ukraine news agency has reported.
According to the Deputy Minister, EU countries today are among the four largest importers of Malaysian palm oil. In 2002 their share in the country's total exports of this product made 14 percent. A notable increase in consumption of hard fats by the European market signifies of high potential for cooperation, he said.
Malaysia has also performed studies, proving possibilities of palm oil usage as a source of bio-fuel, he said.
Malaysia is the largest producer and exporter of palm oil in the world. According to the Malaysian party, its share in global production of this product in 2002 (24.8 million tonnes) constituted 48 percent, and in the global export (19.1 million tonnes) - 57 percent.
The second largest producer and exporter is Indonesia with 36 percent of global production and 32 percent of global export in 2002.
The world's largest importers of palm oil are India (18 percent), EU (17 percent), China (14 percent) and Pakistan (7 percent).
Odessa Trading Seaport is one of the largest in Ukraine. Its share in total cargo turnover of Ukrainian seaports in 2002 constituted 31.6 percent. The port processed 33.6 million tonnes of cargos last year which is 17 percent more than the year before.
On Thursday the Malaysian representatives will visit Odessa, where they will study capacities of Odessa port in transits of their product.