Malaysia 1-10 May palm oil exports down 16.74% from April period

10 May 2013 11:09  [Source: ICIS news]

SINGAPORE (ICIS)--Malaysia's palm oil exports were at 380,047 tonnes during 1-10 May, down by 16.74% from the same period in April, cargo surveyor Intertek Testing Services said on Friday.

The weaker data was mainly due to lower Chinese demand. Shipments to the key market fell to 92,860 tonnes from 167,270 tonnes during the period under review, the data showed.

The drop in exports, however, did not have any major impact on the Malaysian palm oil futures. The benchmark July contract on the Bursa Malaysia Derivatives Exchange was at ringgit (M$) 2,320/tonne ($781/tonne) in late afternoon trade on Friday, up from the closing price at M$2,288/tonne in the previous session.

($1 = M$2.97)

Author: Pei Lin Yeow

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