Malaysia’s palm oil exports fell by 5% in November
Malaysia’s palm oil exports fell 5% month-on-month from Nov. 1 to Nov. 20, according to data released by the Malaysian Shipping Supervision Agency.
According to ITS, the volume of Malaysian palm oil exports for the first 20 days of November amounted to 981.7 thousand tons, down 55.2 thousand tons or 5.32% from the same period in October, when it amounted to 1 million 37 thousand tons.
Earlier it became known that palm oil fell in price by 8% – the most significant decline in 19 months. Fighting for a share of the global vegetable oil market, palm oil follows the price dynamics of competing edible oils.
Demand for palm oil is also a major concern in November and December, analysts said, as India appears to have already purchased enough oil, which means a drop in demand will follow.
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