Hanoi (VNA) – China will not set any limit on the import of Malaysian palm oil and palm-based products, The Star newspaper quoted Chinese Ambassador to Malaysia Bai Tian as saying on February 3.

The diplomat told Malaysia’s Minister of Plantation Industries and Commodities Mah Siew Keong at their meeting that China needs roughly 8.25 million tonnes of biodiesel per year while its businesses could only meet a small portion of 300,000 tonnes.

China is encouraging more firms to invest in the biomass field in Malaysia, he added.

Minister Mah Siew Keong said China has overtaken India to become the second biggest importer of Malaysia’s palm oil and palm-based products.

In the first 11 months of 2017, Malaysia exported nearly 8.52 billion RM (nearly 2.2 billion USD) worth of palm oil to China, representing a year-on-year rise of 9.8 percent.

China also surpassed the US and the EU to become Malaysia’s top export destination of rubber and rubber products. The Southeast Asian country earned 7.45 billion RM from selling rubber and rubber products to China in January-November 2017, up 76 percent against the previous year.-VNA