Malaysia's Palm Oil Exports Decline Amid Weaker Indian Demand

Malaysian palm oil exports declined in August due to weak demand from India. The world's second-largest producer shipped out 1.3 million tonnes of palm oil, down 8% from July, according to a Bloomberg survey of eight plantation executives, traders, and analysts.

The potential for El Niño to impact production and tighten supplies is also a concern. Anilkumar Bagani, head of research at Sunvin Group in Mumbai, noted that the rally in palm oil prices could be deterring price-sensitive buyers in India.

Bagani added that demand was lower than expected because of the availability of cheaper soy oil. Malaysia's Palm Oil Board is set to release official data for August by September 10.