Adobe StockThe Malaysian Palm Oil Board (MPOB) has called for an oil hub or redistribution centre to be set up in Egypt to build on recent cooperation between the two countries, the New Straits Times reported. “By leveraging Egypt’s strategic position and ability to re-export to neighbouring countries, Malaysia can consider establishing a hub for Malaysian palm-based downstream products at one of Egypt’s major ports,” Dr Kadir told Business Times. The proposed hub in Egypt would serve as a vital link in the distribution chain, ensuring timely delivery of palm oil products to markets in the Middle East and North Africa, the 6 June report said. “This can also encourage small quantity imports by Egyptian industry members directly from Malaysian exporters, thus eliminating the additional cost of dealing with a third party,” Dr Kadir added. For this reason, he said the Malaysian oil palm industry could consider investing in bulking facilities in Egypt to gain market share in this region.

Source: The North Africa Journal June 25, 2024 01:02 UTC