Malaysia will increase palm oil exports to China by 500,000 tons a year as it faces pressure from new European Union restrictions targeting deforestation, a senior minister told AFP on Monday.
The trading bloc introduced new rules this year that ban goods from land that has been deforested, throwing its muscle into the fight against climate change and environmental destruction.
Malaysia's Plantation and Commodities Minister Fadillah Yusof told AFP that his country was now upping exports to China, a major importer of the commodity. The increase is the result of a deal between Malaysian-headquarted palm oil product firm Sime Darby Oils International and Chinese state-owned Guangxi Beibu Gulf International Port Group."Chinese importers are buying high value-added downstream palm products produced from Malaysia," he said.
But the country has "no intention" of turning away from the European Union, currently the second largest importer of Malaysian palm oil after India, and just ahead of China.
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