Malaysia’s palm oil exports up 27.74% on 1-10 May

12 May 2014 11:33 Source:ICIS News

SINGAPORE (ICIS)--Malaysia exported 391,856 tonnes of palm oil products on 1-10 May, up by 27.74% from the same period in April 2014, according to cargo surveyor Intertek Testing Services (ITS) on Monday.

The following are the major items from ITS (in tonnes).

Grade

May 1-10       

April 1-10       

March 1-10

Crude palm kernel oil

9,500

3,080

0

Crude palm oil

117,550

68,350

95,477

Palm fatty acid distillate

14,230

9,800

8,312

RBD Palm Olein       

93,895

105,310

97,019

RBD Palm Oil          

34,890

18,670

28,341

RBD Palm Stearin      

56,919

19,405

22,320

Demand from key importers - China , India, and Europe - advanced to 26.32% , 141.06% and 203.77% respectively during the same period.

Market sources expect higher demand for edible oil ahead of the Muslim fasting month in late June and the Eid ul-Fitr celebration in end-July.

The higher demand could lend some support to the Malaysian benchmark prices, which sets the tone for international palm oil market.

Top destination

May 1-10

Apr 1-10

Mar 1-10

China

47,621

37,700

32,060

European Union

96,599

31,800

76,569

India & Subcontinent

95,100

39,450

48,000

By Alexis Gan