India become the biggst customer of Malaysia palm oil

Date: February 20, 2016/ Industry news/ Chat online Leave a message

In 2014, India imported 3,230,000 tonnes palm oil from Malaysia, with year-on-year growth of 38.9%. India becomes Malaysia palm oil's biggest customer.
In the past 12 years, China haa been the biggest customer of Malaysia palm oil. China imported 2,840,000 tonnes palm oil in 2014, down 23.3% year-on-year. That's mainly because China increased soybean oil import, which decreases palm oil imported from Malaysia.
Malaysia palm oil production of 2014 is 196,700,000 tonnes, with year-on-year growth of 2.3%, while palm oil export is 250,200,000 tonnes, down 2.7% year-on-year, as a result of falling demand from China, USA, Ukraine, Pakistan, and India.
Palm oil average price is 2383.5 ringgit per tonnes in 2014, with year-on-year growth of 0.5%, which shows up trend before down. Malaysia palm oil import earning of 2014 is 444,300,000,000 ringgit, down 1.8% year-on-year.

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