KUALA LUMPUR, April 25 — Malaysia is set to benefit with palm oil importers shifting demand from Indonesia to Malaysia following Indonesia’s ‘surprising’ and ‘unexpected measure’ to impose an export ban on the commodity, which will also further raise overall global vegetable oil prices, Public Investment Bank said.
Indonesian palm oil exports make up about 57 per cent of global palm oil exports and 32 per cent of global vegetable oil exports. In its note today, the investment bank’s research said with the export ban, there is little room for upstream plantation players to bargain for higher prices with the refiners.
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