Malaysia's palm oil exports to hit new high
Afp, Kuala Lumpur
Malaysia's palm oil exports are on track to hit a new record this year thanks to strong demand from the global food, biodiesel and oleochemicals industries, a report said Tuesday. Industry officials expect earnings to reach 31 billion ringgit (8.5 billion dollars) in 2006, up 3.0 percent from the record of 30.44 billion ringgit reached in 2004, the New Straits Times said. Malaysia is the world's biggest palm oil producer, but some experts say Indonesia will claim top-dog status within the next few years as its area under plantation is expanded and its trees reach maturity.
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