Palm Oil Exports From Malaysia Gain in June, Led by Jump in China Demand

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

30 Jun 2010

Palm oil exports from Malaysia climbed 1.5 percent in June, with China, the largest user of cooking oils, representing the biggest market, independent cargo surveyor Intertek said. A total of 1,352,603 metric tons of the commodity were tracked between June 1 and June 30 compared with 1,332,026 tons in May, Intertek said in an e-mail.
Shipments to China jumped 22 percent from May to 400,200 tons, according to the data. Exports to India and the sub- continent dropped 3.6 percent to 203,522 tons, they showed. India is the largest user of palm oil.
The European Union was the second-largest destination for Malaysian exports, showing a 3.4 percent gain to 243,406 tons.
Malaysia’s palm oil exports advanced 1.2 percent in June from May, estimated rival Societe Generale de Surveillance. The surveyor tracked 1,339,478 tons in June, up from 1,323,465 tons in May, with exports to China up 4.5 percent to 354,700 tons.

Source: Bloomberg