World Palm Oil Exports Seen Falling for First Time in 16 Years
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Global exports of palm oil may decline this season for the first time in 16 years as makers of biofuel and cooking oil substitute sunflower and soybean oil, Oil World said.
Palm oil exports will total 43.75 million metric tons in the 2013-14 season that began Oct. 1, down 1.1 percent from a year earlier, the Hamburg-based researcher said in an e-mailed report. Shipments from top-producer Indonesia will decline 0.8 percent to 21 million tons, while exports from Malaysia, which ranks second, will fall 2.2 percent to 18.1 million tons.