Lackluster export data from Malaysia anticipated to weigh on the BMD Palm oil futures
Palm Oil (CPO)
•Published on
According to the export agencies, Malaysia witnessed a dip in palm oil exports from the 1st to the 31st of January. The weakness in export data can be attributed to excess stocks of palm oil with the major importers of palm oil, India, and the narrowing discount of palm oil over other rival oils in the international market.
| 2023 | |||
Surveyor Export Tracking | Amspec | ITS | ||
| Tonnes | % Change | Tonnes | % Change |
December 1-31st | 13,53,828 | -9.36% | 13,78,930 | -6.70% |
January 1-31st | 12,86,509 | 12,86,509 | ||
As per Amspec, the export of palm oil went down by 9.36% from 13,53,828 tonnes in December to 12,86,509 tonnes in January. Whereas, as per ITS exports are down by 6.70% from 13,78,930 tonnes in December to 12,86,509 tonnes in January.
