Malaysian Palm Oil Exports Performance to Middle East & North Africa (MENA) Region
(Jan – Aug 2020)
A Review on MPO Performance
Middle East (East of Suez)
|No.||COUNTRY||Jan – Aug 2020||Jan – Aug 2019||Diff (MT)||Diff (%)|
Import of Malaysian palm oil in the Middle East region during the period of Jan – Aug 2020 recorded 2.1% or 25,143 MT declined. The declined is attributed mostly by drop in Turkey and Iran imports where these two major importing countries imported 14.1% and 52.6% lower respectively.
Slowdown in business and leisure activities due to COVID outbreak has somewhat influence Turkish consumers’ spending particularly those in HORECA sector. Since palm oil is mostly consumed in HORECA sector, the slowdown has affected palm oil demand negatively. Besides that, higher imports of sunseed and sunoil by the country may also contributed to lower palm oil imports. Iran imports declined substantially during Jan – Aug where the market’s import reduced by almost half (48.5% 0r 178,737 MT) of what they have imported in 2019. COVID and the US Sanction has affected the country’s import this year.
Despite losing market share in Iran and Turkey, other markets such as Saudi Arabia, UAE, Yemen, Oman and Iraq recorded positive growth. These five countries accounted for 41% of the total Middle East imports of Malaysian palm oil.
North Africa (West of Suez)
|No.||COUNTRY||Jan – Aug 2020||Jan – Aug |
|Diff (Vol)||Diff (%)|
Imports of Malaysian palm oil by the North African market during Jan- August has recorded an increase of 46.3% or 97,824MT, owing to huge increase in import by Egypt and Djibouti. Import growth by these two market has exceeded 100%.
Egypt market led the region as the biggest importer of Malaysian palm oil, with imports of 97,948 MT, 156.7% higher than last year. Djibouti and Somalia are also recorded huge increase of 147.9% and 30% respectively. Other markets such as Morocco and Tunisia have also registered significant increase of 721% and 910% respectively.
Breakdown of MPO Exports (MT)
|PRODUCT||Jan – Aug|
|Jan – Aug|
|Change (MT)||Diff (%)|
RBD PL accounted for 54% of the total Malaysian palm oil imported by the region during January – August 2020. Major importers of RBD PL include Turkey, Egypt, Somalia, Oman, Yemen and Djibouti. These countries accounted for 76% of the total Malaysian palm oil imported by the region. CPL 15% of Malaysian palm oil market share and the volume went mostly to Saudi Arabia. Duty advantage on crude products has prompted the country to opt CPL import instead of RBD PL. There was also some quantity of CPO volume going into the region specifically to Morocco.
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