EU cuts palm oil imports

Indonesia reduced its sales of palm oil to the European Union between July 1 and November 26 this year. According to the European Commission, supplies to the EU decreased by almost 20% – from 558.5 thousand tons (36.8% share) to 463.3 thousand tons (33%). At the same time, the country remains the largest exporter of palm oil to Europe.

The second position in the ranking is occupied by Malaysia, which, on the contrary, increased shipments by 8% – from almost 301 thousand tons (19.9%) to 324.8 thousand tons (23.1%).

Next comes Guatemala, where local exporters shipped 214.8 thousand tons (15.3%) to the European Union, compared to 277.4 thousand tons (18.3%) in the same period last year.

Honduras and Papua New Guinea are also among the key buyers, as they sold 130.3 thsd tonnes (9.3%) and 99.8 thsd tonnes (6.2%) of palm oil to the bloc, respectively.

In general, since the beginning of July, the EU has purchased a little more than 1.4 mln tonnes of palm oil, which is 7% less than in the first 5 months of the previous agricultural season.

Tags: Malaysia, palm oil, imports, Indonesia, EU