Malaysia’s palm oil exports grow 9.5% in October

Malaysia’s palm oil exports increased by 8.7-9.5% month-on-month from October 1-20, according to data released by the shipping watchdog agency.

The country’s Customs Service reports that palm oil exports from Malaysia totaled 1 million 36,000 tons from Oct. 1-20, up 8.69% from 953,000 tons in the same period last month. The highest rate of shipments was seen in the first half of October, the volume of exports amounted to 803 thousand tons, an increase of 15.55% compared to the previous month.

Earlier it became known that palm oil stocks in Malaysia by the end of September rose by 6.93% and reached an 8-month high of 2.01 million tons due to a sharp decline in domestic consumption and export growth of only 0.93% to 1.54 million tons.

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Tags: export, Malaysia, palm oil