EU reduces palm oil imports
Indonesia has reduced the volume of palm oil sales to the European Union. According to the European Commission, supplies to the EU since July 1, 2023 have fallen by about a third – from 890.42 thousand tons (40.2% share) to 601.95 thousand tons (31.7%). At the same time, the country still remains the largest exporter of “palm” to Europe.
At the second position of the ranking is Malaysia, which, on the contrary, slightly increased shipments – from 453.86 thousand tons (20.5%) to 456.75 thousand tons (24%).
Following Guatemala, local exporters shipped 330.45 thousand tons (17.4%) to the EU, compared to 362.8 thousand tons (16.4%) in the same period last crop year.
Among the key buyers are also Honduras and Papua New Guinea – they sold 189.8 thousand tons (10%) and 111.1 thousand tons (5.8%) of palm oil respectively.
Overall, the EU has purchased 1.9 million tons of palm since the beginning of July, 14% less than in the same period of the previous MY.
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