Americas (Jan – Nov) 2020

Malaysian Palm Oil Exports Performance to Americas Region
(Jan – Nov 2020)
A Review on MPO Export Performance

Table 1 : A Review on MPO Export Performance (MT)

 COUNTRYJan-Nov 2020Jan-Nov 2019Diff (MT)Diff (%)
20Dominican Rep.232232N/A
23St.Kitts and Nevis7878N/A
24St. Lucia78180-102-56.9
27St. Vincent and The Grenadines403812.9
29Costa Rica1854-36-66.7
30El Salvador00-100
31Neth Antilles22-22-100
 Grand Total561,561598,650-37,089-6.2

Source : MPOB

During January-November 2020 period, total Malaysian palm oil export to the Americas region recorded 561,561 MT against 598,650 MT which was registered during the same period of 2019 (refer to Table 1). This represents a decline of 37,089 MT or by 6.2%. The decline is largely attributed to lower MPO export to the biggest buyer in the region, the United States (US). During Jan-Nov 2020 period, total MPO exports to the country went down to 494,306 MT from 510,122 MT recorded during the same period of last year (refer to Table 2). However, the US still maintain its role as the largest importer of Malaysian palm oil in the Americas region, where it accounts for 88% of Malaysian palm oil export to the whole region.

In terms of product breakdown to the US, RBD palm olein, RBD palm oil and RBD palm stearin are the top three products exported to US comprising almost 91% of the overall MPO export to US (refer to table 2). Export of RBD palm stearin increased by 16% while export of RBD palm olein and RBD palm oil decreased by 1.3% and 5.8% respectively. In US, much of the demand for palm oil has dropped due to the downturn in business and leisure activities which affected consumer spending particularly in the Horeca market.

The commercial use of palm oil has declined with restaurants, retailers and meet-up places closing their doors or moving to small operations. Sales and earnings in the US restaurant industry went down, affecting consumption of oils and fats, leading to a decline in oils and fats intake. According to National Restaurant Association, it was estimated that a loss of $165 billion were recorded in sales between March and July and Yelp latest Economic Average also reported that 15,770 permanent restaurant closures were reported as of July 22. NPC International which is the US franchisee of Pizza Hut had filed for Chapter 11 bankruptcy in July and announced it would permanently closed down up to 300 of it pizzerias. Furthermore, McDonalds are planning to close about 200 locations by the end of 2020, while Dunkin Donuts will close 800 of its retail locations by 2020, leading to a further decline in consumer spending. As COVID-19 crisis continues, US industrial products companies are facing challenging times due to demand destruction, chain disruption, cost escalation and workforce dislocation.

Table 2: MPO Export to USA by Type of Products

Malaysian Palm Oil Export to USA (MT)
 Jan-Nov 2020Jan-Nov 2019Change (vol.)Change (%)
RBD PL154,359156,435(2,076)(1.3)
RBD PS152,414131,38821,02616.0
RBD PO143,970152,814(8,844)(5.8)
Source: MPOB

Haiti, another important market for MPO in this region, has been consistently importing palm oil from Malaysia in 2020. Total MPO import rose by 12.8% to 12,127 MT during Jan-Nov 2020 period from 10,752 MT registered during same period last year (refer to Table 3). The largest import has been RBD palm olein accounting for 58% of total MPO import by Haiti. Second largest import product is cooking oil, registering an increase of more than 100% on year-to-year basis.

Table 3: MPO Export to Haiti by Type of Products

 Jan-Nov 2020Jan-Nov 2019Change (vol.)Change (%)
RBD PL7,0927,833(740)(9.5)
Cooking Oil4,4742,2312,243100.5
HRBD PO340425(85)(20.0)
Interestified Mixed Oil66442250.0
HRBD PL042(43)(100.0)
Source: MPOB

Canada is another country that has recorded positive MPO import during Jan-Nov 2020 period after registering an increase by 22.6% which brings the total to 12,197 MT from only 9,950 MT during the same period of last year (refer to Table 4). The largest import for Jan-Nov 2020 period is RBD palm olein accounting for 61% of total MPO import by Haiti. Second largest import product is HRBD stearin, registering an increase of more than 57% on year-to-year basis.

Table 4: MPO Export to Canada by Type of Products

RBD PL7,4723,7123,761101.3
HRBD Stearin1,6651,05660957.7
Double Farct RBD PL8022,424(1,622)(66.9)
RBD PO538267271101.5
Source: MPOB

Chart 5: Breakdown of Total MPO Export to the Americas Region

Source : MPOB

In terms of breakdown to the Americas region, the biggest product being exported to the region during Jan-Nov 2020 period is RBD palm olein accounting for 33% of total exports (refer to Chart 5 and table 6). After RBD palm olein, RBD palm oil (28%) is another major palm oil product exported into the Americas region, followed by RBD palm stearin (27%). Among the major importers of RBD palm olein are the US (154,359 MT), Haiti (7,092 MT) and Canada (7,472 MT). Major destinations for Malaysian RBD palm oil include the US (157,599 MT), Brazil (5,022 MT) and Chile (3,679 MT). Exports of RBD palm stearin registered a total increase by 18.1% compared to the same period last year with main purchase from the US (152,414 MT), Argentina (771 MT) and Canada (245 MT).

Table 6: Breakdown of Total MPO Export (MT) to the Americas Region

Malaysian Palm Oil Export to the Americas (MT)
 Jan-Nov 2020Jan-Nov 2019Change (vol.)Change (%)
RBD PL182,590186,7721,8191.2
RBD PO157,599175,231(6,155)(4.1)
RBD PS153,685136,57923,32818.1
Source: MPOB

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