PALM OIL PLUM­METS

Southeast Asia Globe - - Agenda / Business In Brief -

Ex­ports of Malaysian palm oil fell 14.6% to 512,039 tonnes in the first half of Au­gust “due to weaker ex­ports as well as soft­en­ing ex­ter­nal prices”, ac­cord­ing to a Kuala Lumpur-based trader who sourced ex­port data from a cargo sur­veyor. Oth­ers cited a new im­port pol­icy from In­dia, the world’s big­gest buyer of veg­etable oils, as a ma­jor fac­tor in the fall. The Asian power opted last month to in­crease its im­port taxes on crude and re­fined ed­i­ble oils.

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