# On track for increased palm oil exports? Malaysia’s revival of China-backed mega rail project fuels hopes

> Malaysia signed an agreement with China to resume the East Coast Rail Link project, revived at a lower cost of RM44bn after being cancelled last year. Prime Minister Mahathir said the deal would include increased palm oil purchases by China, which was the second-largest importer of Malaysian palm oil at about 1.9m tonnes in 2018.

- Date: 2019-04-23 · published 2019-04-23T12:00:00.000Z
- Category: trade · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/59677-on-track-for-increased-palm-oil-exports-malaysia-s-revival-of-china-backed-mega
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

If China's palm oil purchases rise above the 1.87m tonnes seen in 2018, demand for Malaysian crude palm oil would strengthen and support prices, though the purchase commitment is not yet firm.

## Read by commodity

- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2021-10-07 | [Indonesia's Sep palm oil exports fall 33% on month as India, China favor Malaysia](https://feedsoft.ai/events/44662-indonesia-s-sep-palm-oil-exports-fall-33-on-month-as-india-china-favor-malaysia.md) | +2.3% | +4.6% |
| PALMOIL | 2019-10-29 | [As India, EU may increase duties, Indonesia eyes China for palm oil export](https://feedsoft.ai/events/56447-as-india-eu-may-increase-duties-indonesia-eyes-china-for-palm-oil-export.md) | +13.0% | +17.4% |
| PALMOIL | 2017-12-17 | [Palm Oil News - CPO Exports to China and Bangladesh Increased](https://feedsoft.ai/events/67571-palm-oil-news-cpo-exports-to-china-and-bangladesh-increased.md) | -0.9% | +3.6% |
| PALMOIL | 2024-07-02 | [Soy Oil Rallies on Prospect for Indonesia, China Trade Spat](https://feedsoft.ai/events/12747-soy-oil-rallies-on-prospect-for-indonesia-china-trade-spat.md) | +0.1% | +0.4% |
| PALMOIL | 2019-04-15 | [Palm oil-based biodiesel exports to China and EU surge in first…](https://feedsoft.ai/events/59478-palm-oil-based-biodiesel-exports-to-china-and-eu-surge-in-first.md) | +0.1% | -9.1% |

## Sources

- foodnavigator.com: https://www.foodnavigator.com/Article/2019/04/23/On-track-for-increased-palm-oil-exports-Malaysia-s-revival-of-China-backed-mega-rail-project-fuels-hopes/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.