BEIJING: China's top food company Cofco Group Co Ltd is partnering Malaysia’s biggest palm oil company Sime Darby Plantation Bhd (SD Plantation) to produce cooking oil, bakery fats and specialty fats in Malaysia for the global export market.
"We look forward to seeing the positive results of combining our research and development capabilities with Cofco’s expertise in advanced health-based food research," SD Plantation executive deputy chairman & managing director Tan Sri Mohd Bakke Salleh said, in a statement.
He said this partnership with Cofco reflects SD Plantation’s aspiration in promoting the health benefits of palm oil and to produce certified-sustainable, premium palm oil products such as palm tocotrienol, red palm olein, and palm kernel oil, for the global market.
On the last day of his official visit to China, Malaysia’s Prime Minister Tun Dr Mahathir Mohamad, today, witnessed the signing of a set of memorandum of understandings (MoU) between SD Plantation and Cofco.
Also present were Primary Industries Minister Teresa Kok and Malaysian Palm Oil Board (MPOB) director general Datuk Ahmad Kushairi Din.
Beijing-headquartered Cofco is represented by its president Patrick Yu while Bakke signed on behalf of SD Plantation.
Through these initiatives, Bakke said both SD Plantation and Cofco aims to create greater demand for certified sustainable palm oil and increase trade volumes between both countries.
"China, has for many decades, been a traditional market for Malaysian palm oil. Our partnership with Cofco is a significant milestone in strengthening trade relations between Malaysia and China.
He said the MoU includes a joint research on the health benefits of palm oil, developing capabilities to manufacture specialty oils and fats, and establishing joint sales and marketing activities to promote premium palm products in China.
"We applaud Primary Industries Ministry for initiating this collaboration and convey our highest appreciation to the government for its continuous support to the Malaysian palm oil industry," said Bakke, who is also MPOB chairman.
Yesterday, MPOB signed a MoU with Tsinghua University on the promotion of Malaysian biofuel in China.
The Malaysian Rubber Board had also signed a MoU with Hainan State Farms Investment Holdings Group Co for technological collaboration in rubberised bitumen road as well as rubber tapping automation and mechanisation.
Kok is leading a delegation to China to promote Malaysia’s commodities. She will have several high-level bilateral discussions with Zhong Shan, China’s Commerce Minister, to to intensify investments and product development in the palm oil and rubber industry.
Kok will also meet with Ni Yuefeng, Minister of General Administration of Customs, to discuss easier facilitation of export of Malaysian palm oil to the Republic and formulate mechanisms related to food quality or safety risk.
She is scheduled to arrive in Guangzhou on 23rd August 2018, where she will visit FGV China Oils Ltd Co for an insight into the group’s operations in China.