Palm oil domestic consumption won’t offset export loss


Although domestic demand for palm oil has gone up, it is not enough to offset the losses from shrinking exports. – The Malaysian Insight file pic, March 31, 2020.

THE rise in domestic consumption of crude palm oil (CPO) will not be able to offset the losses in exports that are likely to shrink between 8% and 15% by today, said analysts.

Singapore-based Palm Oil Analytics owner and co-founder Sathia Varqa said domestic consumption in February was 346,720 tonnes – a 13-month high, but it only accounts for 16% of total annual demand.


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