Malaysia's Declining Palm Oil Production and Exports Set to Stabilize 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 20th of February. The weakness in export data can be attributed towards 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.
| 2024 | |||
Surveyor Export Tracking | Amspec | ITS | ||
| Tonnes | % Change | Tonnes | % Change |
January 1-20th | 8,28,910 | -18.33% | 8,67,828 | -11.85% |
February 1-20th | 6,76,949 | 7,65,024 | ||
As per Amspec, the export of palm oil went down by 18.33% from 8,28,910 tonnes in January to 6,76,949 tonnes in February. Whereas, as per ITS exports are down by 11.85% from 8,67,828 tonnes in January to 7,65,024 tonnes in February. According to SPPOMA reports the production of palm oil on the other hand is also showcasing a decline of 17.21% for the period of Feb 1-15th compared to previous month same period .
