DJ MARKET TALK: Malaysia Palm Oil Exports Up On China,India,Pakistan,US
[Dow Jones] Malaysia's palm oil exports higher on rise in sales to India, China, US, Pakistan, data from cargo surveyors show. Both Intertek and SGS estimate exports in March around 1.35 million tons. SGS estimates March palm oil exports to India rose 29% on month to 135,496 tons, with exports to Pakistan up 12.5% at 142,401 tons. Intertek estimates exports to China 370,929 tons vs 335,935 tons, to Americas 162,260 tons vs 94,004 tons. But shipments to Europe lower, declining 33% to 157,793 tons vs 236,684 tons as buyers there switched to soyoil as the commodity now commanding a smaller premium over palm oil, says broker in Kuala Lumpur. Benchmark BMD June CPO futures trading MYR5 lower at MYR2,540/ton.