China to buy 1.9 million tonnes of Malaysian palm oil over next 5 years: Bernama

China will buy an additional 1.9 million tonnes of palm oil from Malaysia over the next five years.
Reuters

China will buy an additional 1.9 million tonnes of palm oil from Malaysia over the next five years, Malaysia’s state news agency Bernama said on Thursday, citing the minister of primary industries.

China is Malaysia’s third largest palm oil buyer, and imported 1.9 million tonnes from the Southeast Asian country last year.

Malaysia has been trying to reduce its palm oil stockpiles, which hit the highest in at least 19 years last December, in a bid to shore up prices.