The Malaysian Palm Oil Council today held its summit in Kenya for the East Africa region in dubbed pioneering sustainable solutions for a better tomorrow. The summit that aimed at scaling up the production of palm oil in the region revealed that Kenya is its fifth largest exporter of palm oil globally.
The council has also revealed that 95 per cent of the country’s crude palm imports come from the Asian Tiger country. Speaking during the summit, 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 Malaysia 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,” said the Malaysian deputy premier.
The forum also featured prominent local industry players and international experts from Malaysia, Europe and Kenya. Industrial Guru Vimal Shah who is Bidco chairman in his remarks at the summit called on the government to keep the excise duty sector favorable in order to enhance more production.
In 2021, Kenya imported 1.26 billion dollars in palm oil becoming the 9th largest importer of palm oil in the world. Subsequently, palm oil was the second most imported product in the country. Kenya imports palm oil primarily from Malaysia, Indonesia, Thailand, Singapore as well as the Philippines.
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