Palm oil exports to world markets recovering

The world export of palm oil began to recover amid an increase in supply. This is the opinion of analysts of the German analytical company Oil World.

According to the company, the world exports of palm oil began to grow due to an increase in supply in producing countries and improved price competitiveness of the product in the world market. By September this year, global palm oil exports are forecast to increase to 25 million tons.

Palm oil shipments from Indonesia are expected to resume – up to 12.43 million tons (from 11.59 million tons by the same date a year earlier), as well as from Central American countries. Meanwhile, exports from Malaysia and Thailand are likely to remain below last year’s level at 8.5 (8.62) million tons and 0.67 (0.73) million tons, respectively.

Earlier, the Malaysian Palm Oil Board (MPOB) predicted that demand for palm oil from the world’s largest buyers China and India will increase in the near future as prices for the tropical product have now fallen compared to soybean oil.

Tags: palm oil