The GCC region has become a very important destination for Malaysian palm oil in the past five years, the Malaysian Palm Oil Council (MPOC) says.  

According to its statistics, total exports of the product to the region average at around 500,000 tonnes annually. The UAE is among the largest consumers of Malaysian palm oil in the region, recording imports of 264,631 tonnes in 2003 and 318,871 tonnes in 2004.
However, the market saw a dip in 2005, when the country reduced its imports to 264,004 tonnes. The trend took an upturn the following year recording 302,738 tonnes in Malaysian palm oil imports, which preceded the current figures of 354,009 tonnes.
“The UAE has become a leading target for Malaysian palm oil imports due to increasing local demand for the product in the domestic and industrial sectors and the country’s growing palm product export market,” said Ahmad Zafri Zawawi, Middle East director, MPOC.
“In addition, its strategic geographical location and the presence of major entry ports have made the UAE a gateway for Malaysian palm oil to reach countries within the Arabian Gulf, Red Sea, Eastern Africa and Indian Ocean coastal areas.”
Malaysian Palm Oil exports to Bahrain are expected to exceed 1,250 tonnes in 2008, according to the latest studies by the MPOC.
The value of Malaysian palm oil exports to Bahrain reached $338,000 in 2007.
Malaysian palm oil exporters participated in the first Malaysia-UAE Palm Oil Trade Fair & Seminar (POTS) held in Dubai recently. Present were Dato Seri Lee Oi Hian, chairman of MPOC, who delivered the keynote address, and Dato Dr Mohd Basri Wahid, director general, Malaysian Palm Oil Board, among others.
Malaysia currently accounts for 51 per cent of world palm oil production and 62 per cent of world exports. The refining of crude palm oil commenced in the early 70s in response to the government’s call for increased industrialisation.