Malaysian palm-oil shipments tumble most in seven years in January
Demand for the commodity, cut by oil price plunge and record oilseed supply, may shift to soya-bean oil: DBS
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Kuala Lumpur
PALM oil exports from Malaysia, the world's biggest producer after Indonesia, slumped the most in seven years in January as a plunge in energy prices and record global oilseed supply cut demand.
Sales decreased 22 per cent to 1.18 million tonnes from a month earlier, the Malaysian Palm Oil Board data show. The median estimate in a Bloomberg survey published on Feb 6 was for a 15 per cent decline to 1.29 million tonnes. Imports fell 0.5 per cent to 89,908 tonnes, according to board data.
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