Malaysia palm oil exports down by 14.1% during January 1-25, 2013: ITS

Subscribe to GoodReturns
Malaysia, world's second-biggest palm oil producer after Indonesia, registered a decline in palm oil exports by 14.1 per cent to 1,102,585 tonnesduring January 1-25, 2013 against 1,283,704 tonnes shipped during December 1-25, 2012, stated Cargo Surveyor Intertek Agri Services (ITS) due to the decline in shipments of the tropical oil.

Meanwhile, another cargo surveyor, Societe Generale de Surveillance (SGS) stated that Malaysia also registered a decline in palm oil exports by 14.6 per cent to 1,104,890 tonnes during January 1-25, 2013 against 1,293,765 tonnes shipped during December 1-25, 2012

The Malaysian government cut the export tax to between 4.5 percent and 8.5 per cent, from 23 per cent, effective January 1, 2013 with an aim to help reduce the reserves

The palm oil industry is expected to be the source of growth for the country. It had registered a decline in palm oil exports by 17.3 per cent to 830,830 tonnes during January 1-20, 2013 against 1,004,159 tonnes shipped during December 1-20, 2012, stated Cargo Surveyor Intertek Agri Services (ITS) due to the decline in shipments of the tropical oil while another cargo surveyor, Societe Generale de Surveillance (SGS) stated that Malaysia also registered a decline in palm oil exports by 19.9 per cent to 813,778 tonnes during January 1-20, 2013 against 1,015,440 tonnes shipped during December 1-20, 2012

Story first published: Monday, January 28, 2013, 15:30 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Find IFSC