Source: Ukragroconsult (Ukraine)
Analysts from the German firm Oil World have noted a revival in global palm oil exports, attributing this trend to a rise in supply. The company highlights that increased production in palm oil-producing nations, combined with enhanced price competitiveness on the international market, is driving this growth. It is anticipated that worldwide palm oil exports will reach 25 million tons by September this year.
Exports from Indonesia are projected to pick up again, estimated at 12.43 million tons, up from 11.59 million tons during the same period last year. Central American countries are also expected to contribute to this upward trend. In contrast, shipments from Malaysia and Thailand are forecasted to fall short of last year’s figures, with anticipated exports of 8.5 million tons (down from 8.62 million) and 0.67 million tons (compared to 0.73 million), respectively.
Previously, the Malaysian Palm Oil Board (MPOB) forecasted that demand from major buyers such as China and India would rise soon, as palm oil prices have declined relative to those of soybean oil.