Palm oil in the doldrums

25 March 1999

Palm oil in the doldrums

EXPORT demand for Malaysian palm oil continues to remain subdued, according to a report in the Financial Times.

Shipments in March are likely to total about 550,000 – against the 661,000 tonnes achieved last year.

Exports in March were helped by strong demand from China. Pakistan, the European Union and India also bought strongly.

Some demand has been suppressed by the expectation that the Malaysian harvest will climb substantially over the next few months.

One unidentified analyst quoted in the Financial Times puts the rise at 8% to 9 million tonnes.

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