Malaysia's 1-10 July palm oil exports rise 9% on India demand

13 July 2010 06:28  [Source: ICIS news]

SINGAPORE (ICIS news)--Malaysia’s palm oil exports in the first 10 days of July have risen 9% month-on-month to 474,928 tonnes on increased demand from India, a trader said on Tuesday.

The country exported 474,928 tonnes of palm oil between 1-10 July as against the 435,148 tonnes it had exported during the same period in June, according to data from cargo surveyors, Intertek Testing Services.  

Exports of refined bleached and deodorised palm olein rose by 40,938 tonnes to 229,590 tonnes, while refined bleached and deodorised palm stearin exports were up 1,655 tonnes to 32,190 tonnes during the period.

Refined bleached palm oil exports also increased by 1,843 tonnes to 52,540 tonnes, the data showed.

There was a drop in exports of some palm oil products during the period, according to the data.

While crude palm oil exports fell by 15,672 tonnes to 61,850 tonnes, crude palm kernel oil slid by 520 tonnes to 2,480 tonnes and palm fatty acid distillate exports fell 5,200 tonnes to 17,800 tonnes in July. 

While exports of some products had fallen, overall palm oil exports had risen on increased demand from India, the trader said.

“Palm oil exports to India are enjoying strong demand now as its growing affluent class is demanding an increase in fried food as well as personal care products,” a Malaysian producer said.

India imported 122,590 tonnes of palm oil products from 1-10 July, up 79,588 tonnes from the same period in June, overtaking China as Malaysia’s largest palm oil importer in July, Intertek data showed.

Exports to China fell 54,140 tonnes to 90,100 tonnes while exports to the European Union (EU) fell 36,714 tonnes to 56,909 tonnes.

Palm oil and its products are used in a wide range of industrial applications ranging from biodiesel to food stuffs, personal care products and detergents.    

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By: Serena Seng

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