Palm oil exports expected to drop for first time in 16 years

12/22/2013 | Bloomberg

For the first time in 16 years, global exports of palm oil are expected to decline in the 2013-14 season and will drop 1.1% from the previous year, according to Oil World. "Palm oil has lost attractiveness in the energy markets of Europe and other countries, which resulted in a considerable slowing-down of purchases," says the report. "Also, in the food markets palm oil has lost market share to sunflower oil and partly to soya oil. This demand shift was also triggered by the deteriorated price attractiveness of palm oil."

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