COFCO, Sime Darby Partner on Multiple Palm Oil Ventures
China’s COFCO has partnered with Malaysia’s Sime Darby Plantation, the largest producer of certified sustainable palm oil in the world, on multiple palm oil related ventures.
The two participated in an MOU signing event held at the China World Summit Wing to solidify their partnership in initiatives including joint research on the health benefits of palm oil, developing systems for manufacturing specialty oils and fats, and establishing joint sales and marketing programs targeting the sale of differentiated palm products in China.
Under the terms of the agreement, both COFCO and Sime Darby will conduct research on the health benefits associated with palm tocotrienol, red palm olein, and palm kernel oil, and plan to develop new products such as premium shortening and bakery fats with the possibility to co-manufacture these products in Malaysia for sale on the Chinese market.
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