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)
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.
|ICIS news FREE TRIAL|
|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|
Asian Chemical Connections