The main surprise in the MPOB April report was the much lower than expected fall in exports leading to stocks rising by the largest pace in 8 months to a high of 1.642 million tons or up 11.48% from March and 6.22% above the same time last year. Export plunged 17.73% against market average expectation of minus 13.45% after shipment to China dived 50.84% in the month as the series of lockdown in major cities in the country continue unabated destroying edible and oleo-chemical demand keeping Jan-Apr 2022 exports flat compared to the same time last year. China is top 3 destination market for Malaysia palm oil export but is expected to see reduced inbound shipment of palm products from Malaysia and Indonesia this year. Indonesia and Malaysia together exported 6.255 million tons of palm products to…

For more analysis please subscribe or get a free trial info@palmoilanalytics.com