FGV Expects Palm Oil Exports

Felda Global Ventures Holdings Bhd. (FGV) expects its annual palm oil exports to China will double to about 600,000 following a recent deal with China-based Sinograin Oils Corp. FGV President and CEO Datuk Zakaria Arshad says this deal is worth several hundred thousand dollars and hopes to soon see the deal’s impact on FGV’s bottom line. Last year, China was FGV’s third largest palm oil products market, and this year, it is set to surpass India and Pakistan soon to become FGV’s biggest export market.