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)
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