| Malaysian crude palm oil companies eye the UAE in particular, the GCC countries and the Middle East in general for their better trading partners. A number of companies from around the world, which deals in Islamic Finance gathered at Amanie-Failaka Symposium 2011 in Abu Dhabi, looking for new partners for Islamic and conventional funds management for low risk and higher returns. According to AbleAce director Azaraie Mohamad Ghazi, the company have started trading in crude palm oil with the GCC region recently and few companies based in Dubai have signed contracts with them. The challenge for palm oil trees is land and Malaysia has less land, so the Malaysian companies are growing their crops in Indonesia. In Malaysia around 17 million tonnes of CPO’s (crude palm oil) a year is produced while in Indonesia 24 billion tonnes is produced a year. |
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