The Malaysian palm oil industry is now eyeing Algeria as a key market following the country's rapidly growing food industry.
The good news was confirmed by the Malaysian Ambassador to Algeria after the country's oil exports jumped 82 percent to 79,000 last year.
The Algerian market relies on imported oil products to meet 75 percent of its annual cooking oil needs.
Ambassador Rizany Irwan Muhamad Mazlan said Algeria offers the potential of palm oil for use in food products such as specialty fats, confections, snacks, margarine, cooking ingredients and non-dairy creamers.
Rizaldy said Malaysia is committed to strengthening trade relations with the country as Algeria is a leading economy in the Middle East and North Africa region.
The Malaysian Palm Oil Council (MPOC) and four Malaysian companies last April participated in Algeria's largest agricultural industry exhibition, Djazagro, to explore business and trade opportunities.
Next, Rizaldy discussed the role of participation in the Djazagro program in opening up opportunities for Malaysian organizations to showcase products and interact with potential buyers from Algeria.
The Malaysian Ambassador also held discussions with the President of the Algerian Chamber of Commerce and Industry (CACI), Hamenni Kamel to advance engagement between the Malaysian and Algerian business communities.
