Global Stocks Fall on Strong Palm Oil Exports

Global palm oil stocks have started to decline this year amid strong market demand and sluggish production in key regions. This conclusion was reached by experts of the Hamburg-based analytical agency OilWorld (Germany).

As experts note, global trade in the product from Indonesia, Malaysia and Thailand from January to July increased to the maximum of the last 4 years – 25.1 million tons.

“The increase was almost exclusively due to Indonesia, which shipped 16.1 million tons of palm oil, contrasting with last year, when national exports plummeted to 11.6 million tons due to various domestic restrictions,” the experts explained.

According to OilWorld (Germany), palm oil stocks also fell most notably in Indonesia by early August, from a record 9 million tons a year earlier to 4 million tons. In Malaysia, residues were in line with the results of the previous year – 1.73 million tons.

The main importers of “palm” since the beginning of this year are India and China, which purchased 5.18 million tons (+1.4 million tons) and 3.26 million tons (+1.5 million tons), respectively.

“Thus, the product stocks in the mentioned regions have increased significantly,” the German agency added.

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