Malaysia’s palm oil exports at two-year low in January
From January 1 to January 25, Malaysia exported 837.68 thousand tons of palm oil, which is the lowest for the period in the last 2 years.
As Business Recorder notes, the decrease in exports is due to low demand for the product and increased consumption of cheaper competing oils. The volume of palm oil production in the country, according to estimates of the Malaysian Association of palm oil producers, from January 1 to January 20, decreased by 14% compared to last month.
Earlier it became known that Indonesia at the end of the year exported 23.9 million tons of palm oil, which is 8.9% less than in 2023. The volume of oil shipments to China, a key market for Indonesian exporters, decreased by 28.1% to 3.86 million tons. India’s palm oil imports are also falling, with analysts expecting them to reach 5-year lows by the end of January.
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