Malaysia targets to increase 2021 palm oil exports to $18.2 bln

March 9 (Reuters) - Malaysia is targeting to export 75 billion ringgit ($18.2 billion) worth of palm oil and palm-based products this year, the commodities minister said on Tuesday.

This is an increase from 72.8 billion ringgit in 2020, minister Khairuddin Aman Razali said during a press conference.

Malaysia is the world's No.2 palm producer and exporter.

"For the timber sector, we are targeting 23 billion ringgit. For the rubber sector we target a 6% growth," he added.

($1 = 4.1240 ringgit)

(Reporting by Mei Mei Chu; Editing by Himani Sarkar)