Malaysian Palm Oil Exports Performance to Europe Region (January – June 2023)
During the Jan – Jun 2023 period the EU region imported a total of 523,648 MT Malaysian palm oil. This was a decline of almost 250,000 MT or by 32% as the EU have started complying with RED II requirement to phase out palm oil in biodiesel production.
The Netherlands remained as the biggest exporting destination of Malaysian palm oil for January until June 2023 for the European region. The Netherlands imported 259,908 MT but there is a noticeable consistent decline in importing of palm oil from Malaysia, by 41%. Italy also recorded a decline of about 39% with an import volume of 88,662 MT while Spain recorded an import volume of 64,656 MT which is a decline of 12%. As for the rest of Europe, there were several nations which showed increases in their import of palm oil from Malaysia. Countries such as Belgium, Bulgaria, Hungary and Poland showed a promising uptick of imports from Malaysia. Imports by Belgium, Bulgaria, Hungary and Poland for January – June 2023 was 6544 MT, 1856 MT, 154 MT and 425 MT, respectively.
The positive impact of effect of Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has yet to be seen. This is due to UK’s import of Malaysian palm oil that was 6,235 MT, a 28% Y-o-Y decline. However, this situation is not expected to prolong and the import will increase in the final quarter of 2023 onwards.
The export performance of Malaysian palm...
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25 августа 2023