Palm Oil Exports Decline: Indonesia and Malaysia Face Downturn in February and April

Mumbai, 30 April (CommoditiesControl):

Indonesia and Malaysia, two of the world's largest palm oil producers, experienced declines in palm oil exports in February and April, respectively.

Indonesia's February Exports:

Indonesia, the largest palm oil exporter globally, saw a 25.6% decrease in palm oil exports in February compared to the same period last year. The country exported 2.17 million metric tons of palm oil products in February, alongside the production of 3.88 million tons of crude palm oil. By the end of February, palm oil inventories in Indonesia rose to 3.26 million tons. The decline in exports was attributed to stiff price competition from other edible oils like sunflower and rapeseed oils, impacting demand, particularly from markets such as India.

Malaysia's April Exports:

Malaysia, another significant palm oil exporter, witnessed an 11.5% decline in palm oil product exports in April compared to March. Total exports for April amounted to 1,144,100 tonnes, with notable decreases in various palm oil products such as crude palm oil, RBD palm oil, and palm fatty acid distillate. The decline in exports reflects a broader trend of fluctuating palm oil trade in recent months. Palm oil exports have faced challenges amid changing market dynamics and competition from alternative edible oils.