Malaysia expects India's demand for palm oil to remain steady despite import tax hike

게시됨 2024년 10월 8일

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Malaysia expects steady palm oil demand from India despite recent import tax hikes, with prices surging over RM4,000 per tonne. The country is on track to exceed 19 million tonnes in palm oil production this year, marking the highest output since 2020, and has seen a 10.2% increase in production from January to August. India, the largest export market for Malaysian palm oil, has increased import taxes on crude palm oil and other edible oils by 20%.

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원본 콘텐츠

KUALA LUMPUR (Oct 8): Malaysia expects demand for palm oil from India to remain steady despite the recent hike in import taxes by the largest buyer of vegetable oils, says Minister of Plantation and Commodities Datuk Seri Johari Abdul Ghani. “We haven’t seen any issues. The demand for our palm oil remains steady. In fact, prices have surged to over RM4,000 per tonne,” Johari said during a press conference on Tuesday after officiating the Malaysian Palm Oil Forum, organised by the Malaysian Palm Oil Council. The benchmark palm oil futures for January 2025 delivery was trading at RM4,226 per tonne at the time of writing on Bursa Malaysia Derivatives. The Bursa Malaysia Plantation Index is up 3.6% this year, tracking similar increases in the prices of the commodity in the period. On the subject of palm oil production, Johari said Malaysia is on track to exceed 19 million tonnes in production this year, marking the highest output since 2020. Between January and August, Malaysia ...

출처: Theedgemarkets