USDA sees Malaysia palm oil export up marginally in Oct-Sep 2016-17.

Export of palm oil from Malaysia is forecast to increase marginally by 3.1% on year in Oct-Sep 2016-17 to 17.15 million tonne, despite production expected to jump by 9.7% to 19.5 million tonne. The relative stagnation of Malaysia palm oil export has been due to stiff competition from the world biggest palm oil exporter Indonesia and other edible oils such as soybean, sunflower, canola and rapeseed oils. For Oct-Sep 2017-18 the USDA expects Malaysia palm oil export to increase to 18 mln tn when the production is estimated at 21.0 million tonne due to favourable weather.