M’sia imports aid I’nesia palm oil sector
Malaysian buyers are ramping up imports of Indonesian palm oil as local supply battles to recover from the lingering impact of last year’s crop-damaging El Nino weather pattern. Traders said world No.2 producer Malaysia was set to boost imports of palm oil and related products from top grower Indonesia by about 20,000 metric tons in March from typical monthly volumes of around 40,000 to 50,000 metric tons. The two countries churn out nearly 90 percent of the world’s palm oil, used to make products ranging from cooking oil and chocolate to soap and cosmetics.
