Malaysia's palm oil exports fall by 7.52% during 1-25 March '13

25 March 2013 06:53  [Source: ICIS news]

SINGAPORE (ICIS)--Malaysia exported 1.067m tonnes of palm oil during 1-25 March, down by 7.52% from the same period in February, according to cargo surveyor Intertek Testing Services on Monday.

The lower number of exports reflected mainly a fall in Indian demand, with shipments to India falling by 39% to 181,540 tonnes because of the uncertainty over the country’s tax changes, traders said.

Malaysia’s crude palm oil (CPO) futures for the June contract were at ringgit (M$) 2,470/tonne ($794/tonne) at midday on 25 March, down from the closing price at M$2,494/tonne on 22 March as a result of the weaker export data.

($1 = M$3.11)

By: Yeow Pei Lin

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index