Malaysia, China sign US$891 million worth of palm oil purchase deals

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KUALA LUMPUR (March 4): Malaysian Primary Industries Minister Teresa Kok and China’s Ambassador to Malaysia Bai Tian sign purchase intent documents for the export of 1.62 million tons of palm oil from Malaysia to China.

* Deals have combined value of US$891 million based on current price

* Yantai Tianmao Edible Ltd sign deal to buy 100,000 tons of refined, bleached and deodorized (RBD) palm stearin from Sime Darby Plantation

* Yihai Kerry (Shanghai) International Trade Co. sign deal to buy 1.3 million tons of RBD palm olein from PGEO Marketing Sdn

* Yizheng Fangshun Industry Ltd sign deal to buy 120,000 tons of RBD palm stearin from Cacao Paramount Sdn, unit of Teck Guan Group

* Yizheng Fangshun sign deal to buy 100,000 tons of RBD palm olein from SOP Edible Oils