Malaysia's palm oil exports fell by close to 4% in H1 April

15 April 2013 08:45  [Source: ICIS news]

SINGAPORE (ICIS)--Malaysia's palm oil exports were at 648,275 tonnes on 1-15 April, down by nearly 4% from the same period in March, cargo surveyor Intertek Testing Services said on Monday.

Shipments to the European Union fell to 74,430 tonnes from 119,140 tonnes, while demand in the Middle East slowed to 18,700 tonnes from 117,005 tonnes, the data showed.  

Malaysian palm oil futures weakened on Monday, because of the weak export data and concerns that the bird flu outbreak in China could cause a slowdown in animal-feed demand and negatively impact the commodities market, traders said.

The benchmark June contract on the Bursa Malaysia Derivatives Exchange was at ringgit (M$) 2,309/tonne ($759.54/tonne) on the midday of Monday, down from the closing price at M$2,345/tonne on 12 April.

($1 = M$3.04)

By: Yeow Pei Lin

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