Malaysia's palm exports from 1-25 Feb up 1.57% month on month

25 February 2014 12:12 Source:ICIS News

SINGAPORE (ICIS)--Malaysia’s palm oil exports from 1-25 February 2013 rose by 1.57% to 1.048m tonnes compared with the same period in January, according to cargo surveyor, Intertek Testing Services (ITS) on Tuesday.

Products

1-25 Feb 2014 (MT)

1-25 Jan 2014 (MT)

Crude Palm Oil

189,310

191,090

Crude Palm Kernel Oil

12,690

3,670

Palm Fatty Acid Distillate

35,555

32,700

RBD Palm Olein

455,245

444,350

RBD Palm Oil

79,940

97,610

RBD Palm Stearin

96,910

93,776

Others

178,661

168,908

Total (MT)

1,048,311

1,032,104

India overtook China as the top importer of the month, while demand from the EU has scaled back compared with the same period in January.

Destination

1-25 Feb (MT)

1-25 Jan (MT)

India & Subcontinent   

268,350      

125,270

China                      

233,740      

300,743

Asia Oceania

188,941

159,440

EU     

161,810      

216,911

Middle East             

99,175       

54,560

The benchmark May contract price on the Bursa Malaysia Derivatives Exchange was at ringgit (M$) 2,733/tonne ($833.23/tonne) at the market's close on Tuesday, down from the previous session’s closing price of M$2,745/tonne.

($1 = M$3.28)

By Alexis Gan