PUTRAJAYA (Feb 4): The 2019 novel coronavirus (2019-nCoV) outbreak in China is expected to have a temporary impact on commodities prices, especially crude palm oil (CPO). The seminar was organised by the Malaysian Palm Oil Council (MPOC). The Malaysian palm oil industry continues to contribute robustly to the nation’s economic development, and according to Kok, the industry is now the fourth largest component in the national economy. Palm oil has now become a leading vegetable oil globally and Malaysia is now the second largest exporter accounting for 20.1% of global oils and fats export. “Indeed, China, India, the European Union, the US and Japan are among the major palm oil export destinations for Malaysia,” she added.

Source: The Edge Markets February 04, 2020 07:52 UTC