Kenanga Research analyst Adrian Kok pointed out that palm oil exports in March increased by 31.8% m-o-m ahead of Ramadan, predominantly driven by India, Kenya, Iran, Pakistan and Turkey.
PETALING JAYA: Potential stockpiling activities from China and India as well as renewed purchasing from Muslim countries ahead of the Aidil Fitri festive season is expected to push the exports of local palm oil higher this month.
According to plantation analysts, palm oil exports are expected to rise by about 17.6% month-on-month (m-o-m) to 1.39 million tonnes in April.
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