According to industry observers, local palm oil exports to China are expected to jump by about 2.26 million tonnes in 2019 compared with 1.86 million tonnes recorded in 2018. “This is a very interesting development as China imports of local palm oil has been on the downtrend in recent years. Malaysia’s annual palm oil export volume to China shrank to below three million tonnes after 2015. Malaysia’s palm oil inventory alone stood at 2.92 million tonnes as at end-March, while Indonesia is estimated at about 5 million tonnes. “This move will likely help to reduce Malaysia palm oil stock in the near future given the ample supply of raw material for the biofuel plant here.”

Source: The Star April 26, 2019 00:00 UTC