ADVERTISEMENT

Global 2019 palm oil demand set for first contraction in two decades


  • Palm Oil
  • Monday, 4 Mar 2019

China's palm oil purchases from Malaysia dropped to 98,635 tonnes last month from 264,722 tonnes in January.  "We don't know how this trade war will turn out," said Ivy Ng, regional head of plantations research at CIMB Investment Bank. "For China, it's still a question mark."

China's palm oil purchases from Malaysia dropped to 98,635 tonnes last month from 264,722 tonnes in January. "We don't know how this trade war will turn out," said Ivy Ng, regional head of plantations research at CIMB Investment Bank. "For China, it's still a question mark."

KUALA LUMPUR: World palm oil demand may suffer its first contraction in two decades during the 2019/20 crop year due to rising domestic oilseed supplies in top buyer India and slowing demand in Europe and China, industry participants told Reuters.

Indian traders expect flat to slightly larger palm oil imports this year against a backdrop of record oilseed production that should boost domestic edible oil supplies.

Palm Oil , Markets , Plantations

   

ADVERTISEMENT