Malaysia’s palm oil exports slowed in May
According to data from cargo surveyor Intertek Testing Services, exports of Malaysian palm oil in the period 1-15 May decreased by 5.2% compared to the figure for the same period in April – to 600.78 thousand tons.
At the same time, LSEG experts estimate the export of the product from May 1 to 20 at 647.35 thousand tons.
It should be noted that reduction of palm oil shipments by Malaysia since the beginning of May reduces prices for the product. In addition, pressure on prices is also exerted by expectations of a sharp increase in production. Thus, as a result of trading on May 21 at the stock exchange in Kuala Lumpur, Malaysian palm oil futures for the most active August contract fell to 3,868 ringgit/t compared to 3,921 ringgit/t on the previous trading day.
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