Malaysian Palm Oil Imports Rise by 75pc in 8 Months

Bangladesh imported 149,717 tonnes of palm oil from Malaysia during first eight months of this year (January to August), which was 75.1 per cent or 64,213 tonnes higher than that of the same period of the last year.

The import of the item during the year 2007 was 154,494 tonnes, according to the Malaysian Palm Oil Board report released recently, reports BSS.

Malaysia, the largest palm oil producing country in the world, exported a total of 9,799,749 tonnes of palm oils to different countries during January to August 2008 against 8,398,755 tonnes during the corresponding period of the last year, marking a rise by 1,400,994 tonnes or 16.68 per cent.

The country exported a total of 13,734,752 tonnes of palm oil during 2007.

The major importing countries of Malaysian palm oil include China, 27 European countries, Pakistan, India, Bangladesh and the USA. Malaysia exported a total of 8,434,263 tonnes of palm oil in the countries during 2007.

The export during January to August 2008 in the major importing countries totaled to 5,806,940 tonnes against 5,144,398 tonnes, which was 12.9 per cent or 662,542 tonnes higher, the statistics showed.

The largest palm oil importer, China imported 2,572,024 tonnes during the first eight months of this year against 2,368,595 tonnes last year, marking a jump by 8.6 per cent or 203,429 tonnes.

The country imported 3,840,389 tonnes of palm oil during the year 2007.

The EU countries imported 1,234,475 tonnes of palm oil during January to August 2008, against 1,317,918 tonnes during the same period of the last year, falling by 6.3 per cent or 83,443 tonnes.

The import of palm oil by the EU countries during last year was 2,063,226 tonnes.

Import of palm oil by Pakistan during the last eight months in the current year increased by 28.8 per cent or 178,169, rising to 797,358 tonnes this year from 619,189 tonnes last year.

It's import of the same item during 2007 was 1,070,067 tonnes.

India imported 421,730 tonnes of palm oil from Malaysia during the first eight months this year, against 303,630 tonnes during same period of the last year, indicating a rise by 38.9 per cent or 118,100 tonnes. The country's total import in 2007 was 511,167 tonnes.

The USA imported a total of 631,636 tonnes of palm oil in eight months this year, from 449,562 tonnes during same period in the last year, showing a rise by 40.5 per cent or 182,074 tonnes. The total import during 2007 was 794,920 tonnes.