MARKET DEVELOPMENT
Malaysian Palm Oil Exports Rise in June, Led by China
Malaysian Palm Oil Exports Rise in June, Led by China
30/06/2010 (Bloomberg) - Malaysia’s palm oil exports rose 1.5 percent in June, with China, the largest user of edible oils, accounting for the biggest share, 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 to 203,522 tons, it added. India is the largest user of palm oil.
The European Union was the second largest destination for Malaysian exports, which gained 3.4 percent to 243,406 tons.