Kenya becomes top buyer of Malaysian palm oil, overtaking EU and China

Kenya was the second-largest purchaser of palm oil from Malaysia, ahead of the EU27 at 21,000 tonnes and China at 117,000 tonnes. Kenya accounted for 30% of Malaysia’s total palm oil exports to Africa, with annual imports from Malaysia forecast to reach 1.3 million tonnes. The document also said that Kenya remained a key growth market, supported by rising domestic consumption, with more than 90% of its palm oil imports used for food purposes. Malaysian palm oil exports to India have increased significantly, exceeding 250,000 tonnes in both May and June. This positive momentum is expected to continue in the third quarter. India is expected to import around 2.9 million tonnes of palm oil in the third quarter to meet festive season demand, providing further support to prices. Looking ahead, crude palm oil (CPO) prices are expected to remain stable in the range of 4,100 to 4,300 ringgit per tonne ($970-980) next month, supported by festive demand from India and high soybean oil prices ...