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Agriculture Asia Palm Oil

Malaysian palm exports slump as production enters peak season

Malaysian exports of palm oil and its derivatives dropped 8.8% in the first half of October vs the same period the month prior.  Exports of crude palm kernel oil, RBD palm olein, and RBD palm oil plummeted, coming off 54%, 39%, and 42% respectively.  This was in part offset by a 13% increase in crude palm oil exports, which at 280.3k mt constituted 40% of total exports.  India, the single largest market for palm oil imports, saw a massive jump in imports 31% MoM, translating to 50.1k mt of additional volume over the same period in September.  The Americas, a far smaller palm market than Indian, was the only other region that saw an increase in palm imports, with a 76% surge, which translated to only 20.2k mt.  All other palm market regions saw Malaysian imports slump, according to Intertek.

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