Malaysian Palm Oil Exports Performance to Americas Region
(Jan – August 2021)
A Review on MPO Export Performance
Table 1 : A Review on MPO Export Performance (MT)
|COUNTRY||Jan-Aug 2021||Jan-Aug 2020||Diff (MT)||Diff (%)|
|24||St Vincent and the Grenadines||23||22||1||5.8|
|28||St.Kitts and Nevis||–||17||(17)||(100.0)|
|Source : MPOB|
During January-August 2021 period, total Malaysian palm oil export to the Americas region recorded a total volume of 231,097 MT against 434,921 MT which was registered during the same period of 2020 (refer to Table 1). This represents a decline of 203,824 MT or by 46.9%.
In terms of breakdown to the Americas region, the biggest product being exported to the region during Jan-Aug 2021 period is RBD palm oil accounting for 32% of total exports (refer to Chart 2 and table 3). After RBD palm oil, RBD palm stearin (26%) is another major palm oil product exported into the Americas region, followed by RBD palm olein (25%). Among the major importers of RBD palm oil are the US (69,070 MT), Chile (1,358 MT) and Guyana (1,150 MT). Major destinations for Malaysian RBD palm stearin include the US (51,926 MT), Guatemala (6,600 MT) and Argentina (1,068 MT). Exports of RBD palm olein are mainly purchased by the US (47,907 MT), Canada (3,681 MT) and Trinidad (2,332 MT). Cooking oil is another major export product, mainly purchased by Trinidad (2,759 MT) and Dominica (2,695 MT).
Chart 2: Breakdown of Total MPO Export to the Americas Region
Source : MPOB
Table 3: Breakdown of Total MPO Export (MT) to the Americas Region
|Malaysian Palm Oil Export to the Americas (MT)|
The decline in MPO export to the Americas region is largely attributed to lower export to the biggest buyer in the region, the United States (US). During Jan-Aug 2021 period, total MPO exports to US went down to 187,292 MT from 387,345 MT recorded during the same period of last year (refer to Table 4). Based on industry feedback, the decline of Malaysian palm oil import by the US is partly due to the US importers being concerned that the supply chain of palm oil imports and shipments from Malaysia may be affected by the withhold release order (WRO) related to FGV and Sime Darby.
In terms of product breakdown to the US, RBD palm oil, RBD palm stearin and RBD palm olein are the top three products exported to US comprising almost 90% of the overall MPO export to US (refer to table 4). Export of RBD palm oil decreased by 41.1%, RBD palm stearin decreased by 56.4% while RBD palm olein decreased by 56.7%.
Table 4: MPO Export to USA by Type of Products
|Malaysian Palm Oil Export to USA (MT)|
|NBD PALM OLEIN||9,459||5,599||3,860||68.9|
Canada, another important market for MPO in this region, has been consistently importing palm oil from Malaysia for years. Total MPO export decreased by 10.1% to 8,512 MT during Jan-Aug 2021 period from 9,470 MT registered during same period last year (refer to Table 5). The largest export has been RBD palm olein accounting for 41% of total MPO import by Canada eventhough it registered a drop by 30.4% on year-to-year basis. Second largest import product is RBD palm oil at 1,399 MT followed by HRBD Stearin at 1,074 MT.
Table 5: MPO Export to Canada by Type of Products
|Malaysian Palm Oil Export to Canada (MT)|
Malaysian palm oil export to Guatemala has recorded the highest increment during Jan-Aug 2021 period after registering an increase by 6,925 MT or by 1,020.6% which brings the total to 7,603 MT from only 679 MT during the same period of last year (refer to Table 6). The largest import for Jan-Aug 2021 period is RBD palm stearin accounting for 83% of total MPO export to Guatemala. Other products imported by Guatemala are HRBD palm olein, registering an increase by 330 MT or by 50.8%.
Table 6: MPO Export to Dominica by Type of Products
|Malaysian Palm Oil Export to Guatemala (MT)|
|RBD PALM STEARIN||6,600||–||6,600||N/A|
|HRBD PALM OLEIN||980||650||330||50.8|
|RBD PALM OLEIN||20||29||(8)||(28.3)|
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