Malaysia 1-10 December export show a noticeable improvement | Malaysis 1 10 Dec export

First, 10 days of December export rebounded to fall by just 5.84% according to Amspec data compared to a massive 21% decline in the first 5 days of Dec from ITS data. Recovery in exports to India, the E.U and the African continent propelled the higher shipment in the month, particularly for CPO product given it’s the last month of export tax exemption. Malaysia CPO has been exported on zero export tax from June to December, making CPO relatively cheaper to refined products.

December full month exports are likely to end higher than November, adding pressure for CPO Futures and cash prices to stay elevated in December and January.