Malaysian Palm Oil Traders Asked to Consider Joint Ventures in Myanmar

Malaysian palm oil traders need to consider setting up joint ventures (JVs) and partners players from Myanmar in their bid to capture more market share in the country’s oils and fats business. Malaysian Palm Oil Council (MPOC) chief executive officer, Datuk Dr Kalyana Sundram said Myanmar currently imports about 862,000 metric tons (MT) of palm oil with Malaysian palm oil only contributing between nine to ten per cent of the import. “Malaysian companies need to set up JVs with Myanmar companies especially in the consumer as well as hotel, restaurant and café (HORECA) sectors.

Furthermore, Malaysian traders should also invest in storage, bulking and manufacturing facilities in Myanmar to facilitate the production and distribution of edible oil, while ensuring the quality remained intact, he said. Malaysia has been losing market share in the oils and fats business in Myanmar because it could not match the lower price of its competitors, he said. MPOC and other relevant authorities in Malaysia have been carrying out necessary measures to clear the way and increase exports to Myanmar.