Tuesday, December 15, 2009

Breaking News-RTRS-Malaysia, Bangladesh mull bilateral palm oil pact

KUALA LUMPUR, Dec 14 (Reuters) - Bangladesh wants to buy palm oil from Malaysia via its state trading arm to ensure sufficient supply and price stability for the edible oil, said a Malaysian minister.
"Bangladesh is interested to have a government-to-government buying arrangement to ensure there is steady supply and price of palm oil is maintained in the local market," Malaysia's Plantation Industries and Commodities Minister Bernad Dompok was quoted by state news agency Bernama as saying.
Such an arrangement will boost Malaysia's palm oil export given Bangladesh's low per capita consumption of palm oil, said Dompok.