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Malaysia is the second largest producer of palm oil in the world; after being overtaken by Indonesia in 2006. Since 1985, palm oil has become the second most consumed oil in the world, after soyabean oil. Malaysia’s share of global production in 1999 was 51% but in 2011, it decreased to 38%.
Now exports of Malaysian palm oil products for August 1-15, 2020 fell 16.5 percent to 694,402 tons from 831,155 tons shipped during July 1-15, cargo surveyor Intertek Testing Services said on Saturday (August 15, 2020).
Here is the breakdown of the ITS palm export figures for August 1 to 15 compared with a month ago (in tons): PALM PRODUCTS
Aug 1 - 15 July 1 - 15 Crude palm oil 185,220 228,250 RBD palm oil 31,230 69,620 RBD palm olein 218,950 226,930 RBD palm stearin 52,405 63,550 Crude palm kernel oil 36,610 27,900 Palm fatty acid distillate 40,032 21,500 TOP PALM MARKETS
Aug 1 - 15 July 1 - 15 European Union 146,650 150,565 China 180,305 189,410 India & subcontinent 102,265 178,595 (Only selected palm products and destinations are displayed here; they may not add up to total exports).
Source: Online/SZK
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