Malaysia: Palm oil exports increase sharply in May
Malaysia’s palm oil exports surged 37 percent to 1.61 million tonnes in May, the highest level since March 2003, according to the Malaysian Palm Oil Board.
Malaysia’s palm oil exports surged 37 percent to 1.61 million tonnes inMay, the highest level since March 2003, according to the Malaysian PalmOil Board.
In May, total palm oil stocks reached2.24 million tonnes, up 2.5 percent from April and 22 percent comparedto the same period last year.
Of the figure, processed palm oil accounted for 959,000 tonnes and crude palm oil was 1.28 million tonnes.
Statistics also showed that the palm oil output of the reviewed month reached 1.81 million tonnes, up 6.9 percent.
Palm oil stock is expected to rise 1 percent in June, yet exports arepredicted to decrease about 7-10 percent, as importers are storingenough for the month of Ramadan.
Malaysia is the world’s second-largest palm oil producer after Indonesia-VNA
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