Market Highlights

Market Highlights

The Impact of COVID-19 on Palm Oil Demand in the EU

Europe is one of the continents worst affected by COVID-19, with over 1.3 million infections and more than 160,000 fatalities. Worldwide, 345,000 deaths had been reported as of 25 May 2020. All 27 member states of the European Union (EU) are affected by the corona crisis to varying degrees. Accordin...

Palm Oil Demand Scenario in China post COVID-19

China’s economy started picking its pace but not the demand for palm oil. The total import of palm oil (PO), rapeseed oil (RSO) and soybean oil (SBO) in Jan-Mar 2020 were 2.49 million MT, decreased by 7.34% as compared to the same period last year, where drop-in PO was the main factor contributing t...

Kenya expected to increase palm oil imports in the coming months

On 8 April 2020, Kenyan President Uhuru Kenyatta has announced a 21-day restricted movement orders in Nairobi, Mombasa, Kilifi, and Kwale in its effort to combat COVID 19 spread and has since extended the order until further notice. Fortunately, the movement of food supplies and other essential carg...

Covid-19, Prospects of Demand Recovery in Russia

Russia’s consumer rights watchdog Rospotrebnadzor reported the first two cases of COVID-19 on January 31, 2020. Both are Chinese citizens[1]. As of May 20 Russia, confirmed 8764 new cases, signaling a slowdown in spreading of coronavirus. As one of the most affected food industries look forwar...

Forecast on Import Trend of Oils and Fats in Bangladesh During May – June, 2020

Due to COVID – 19, consumtion vis-à-vis import of edible oils have declined significantly, like many other commodities. Until April 2020, total 566,771 tonnes of palm oil was imported in the country registering a marginal decline by 1.55% compared to the corresponding period of 2019, whereas import ...

Emerging Markets: Potential Markets to Explore in the Middle East

Covid-19 has taken thousands of unfortunate lives and currently infecting millions of people globally, but other than lives, it affects everything from the economy to lifestyle. The situation is made worse for the Middle East region as global crude oil prices fell to its 20-years low from weak deman...

Emerging Markets: Opportunities for Palm Oil in Algeria

Introduction: Algeria is a predominantly liquid market and is a net importer of oils and fats, it produces only 9.2% of its requirements of around 915.4 thousand MT per annum. Requirements are largely met by imports of oils and fats mainly of soybean oil, followed by palm oil and sunflower oil. Unti...

India Tackles Covid-19 Fallout

The COVID-19 crisis has roiled the economy of India, like most other economies around the world. Figures of unemployment released as of April 2020, at 24%, paint a frightening picture. Besides fighting the challenges of the Covid-19 pandemic on the health of its people, the Government Of India  ...

Sunflower Oil Gaining Popularity among Chinese Consumer

Introduction In 2019, sunflower oil import in China increased significantly by 74.8% to 1.23 million MT, overtaking soybean oil as the 3rd highest imported oil in the same year, which saw the consumption of sunflower oil surging to 1.36 million MT. Although this volume is insignificant compared to o...

Emerging Markets: Opportunities for Palm oil in Asia Pacific Region

Palm oil is the most important commodities for Malaysia. According to the Department of Statistics, palm oil holds a 2.8% share in the Malaysian GDP in 2018. It is well received and sold into more than 160 countries globally.  In the global palm oil market, Malaysian palm oil (MPO) is always pl...

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