China plans to purchase an additional $ 1.9 million) in a bio-jet fuel plant, the Malaysian Ministry of Primary Industry said on Thursday, April 25.

Joint plans are outlined in the Memorandum of Understanding signed in Beijing between the China Chamber of Commerce on Food and Home Products and the Malaysian Palm Oil Council in Beijing, the ministry said in a statement.

Also, the Memorandum of Understanding sets out an agreement on joint work on the use of Chinese Jayun in palm oil trade after approval by the Central Bank of Malaysia.

Today, China is Malaysia's third largest palm oil buyer. Last year, Beijing imported 1.9 million tons of product from Malaysia. Malaysian Prime Minister Mahathir Mohamad is currently in Beijing to attend a forum on China's Belt and Road Initiative.

Malaysia, in order to maintain prices, seeks to reduce its own palm oil reserves, which in December last year peaked over the past 19 years.