Malaysian palm oil exports to India to hit record low

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Malaysian palm oil exports to India to hit record low
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No 2 producer records the lowest exports in March which is set to get worst in April. FMTNews PalmOil

KUALA LUMPUR: Palm oil shipments from Malaysia to top customer India may plunge to a fresh record low in April as the virus lockdown and punitive import curbs cause demand to dry up.

That’s a whopping 97% slump from a year earlier and the lowest monthly total in board data going back to 2000. The industry must be prepared for “cruel” prices as it faces challenges similar to those faced by crude oil and Opec, he said in an interview. “Malaysian crude palm oil prices are now at a sizable discount over Indonesian offerings,” Bagani said.

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