Malaysia's Palm Oil exports grew 17.33% on the month in May to 1.51 million tonnes, driven by Ramadan and Eid Ul Fitr festival demand from destination markets like Bangladesh, India, Pakistan and Egypt, according to latest data from the Malaysian Palm Oil Board (MPOB).
Bangladesh imported 32,677 tonnes of Palm Oil from Malaysia in May, up from 383 tonnes in April. Pakistan imported 108,185 tonnes, up from 54,782 tonnes in April. Indian imports were 273,699 tonnes, up from 160,878 tonnes in April.
CPO production for May amounted to 1.65 million tonnes, up 21.2% from 1.36 million million tonnes the year earlier, according to MPOB data.