The Annual Offshore Oil & Gas Event
logo

The 25thBeijing International Offshore Oil & Gas Exhibition

ufi

BEIJING,CHINA

March 26-28,2025

LOCATION :Home> News > Industry News

Malaysia's aim for more palm oil export to China may hit snag: banker

Pubdate:2017-07-06 09:54 Source:liyanping Click:

KUALA LUMPUR, June 30 (Xinhua) -- While Malaysia, the world's second largest producer of crude palm oil (CPO), is seeking to export more palm oil to China following Prime Minister Najib Razak's visits to China, it may be a tall order this year, as soybean supplies remain ample and Indonesia, another major CPO producer, still has its competitive advantage over Malaysia.

"China's demand for palm oil depends on how competitiveness is CPO price against soybean oil, the availability of domestic edible oils in China as well as the release of rapeseed oils reserves by the government," Ivy Ng, the regional head of agribusiness of CIMB Investment Bank, told Xinhua.

According to Bloomberg data, CPO trades at about 80 U.S. dollars per ton lower than that of soybean oil currently, which is below its 10-year historical average discount of 140 U.S. dollar per ton.

"From historical standpoint, the discount is not as wide or attractive relative to historical average discount. It does not make it very attractive for them (Chinese) to buy more than historical average consumption now," Ng added.

According to a recent report written by UOB Kayhian Research, soybean planting is expected to continue increasing to meet growing demand from China as meat consumption soars.

This is a long-term negative to palm oil industry as ample soybean supplies will put a lid on soybean and soybean oil prices, it said.

Soybean has recorded five consecutive years of good production. The U.S. Department of Agriculture (USDA) has forecasted that total cropland for soybean cultivation will exceed 1 billion hectare worldwide in the next decade.

UOB Kayhian also noted that there is an increasing soybean demand from China as more than 80 percent of China's soybean imports are crushed for soymeal, which is the animal feed for chicken and hogs.

In comparison, China's demand for palm oil has been stagnant for the past 10 years at the level of 5 million to 6.6 million tons.

"Even though China's edible oil import could continue to increase, Indonesia's competitive pricing could well give it a competitive edge over Malaysia," OCBC Bank's economist Barnabas Gan told Xinhua.

Gan listed an Indonesian export revision, with amounts due expressed in dollars rather than a percentage of the price, as one factor that has enhanced the competitiveness of Indonesian palm oil.

Currently, Indonesia still commands the lion's share of palm oil exports to China. The world's largest palm oil producer exported 1.3 million tons to China, versus Malaysia's 650,000 tons from January to May. Last year, Indonesia also dominated palm oil exports to China (2.6 million tons), in contrast with Malaysia's export (1.8 million tons).

Malaysian Plantation Industries and Commodities Minister Mah Siew Keong said earlier that the Malaysian government hoped to reclaim the country's position as the world's major exporter of palm oil to China.

According to Gan, Malaysia's export of palm oil and its products have recovered since August last year after nine months of contraction (excluding March 2016's growth of 7 percent).

"Chinese commodity demand has been healthy year-to-date, but Malaysia's palm oil export growth to China could possibly decelerate into the second half as the low base effect fades," Gan added.

He also noted that the total palm oil import demand in Malaysia is set to fall this year as Europe moved to restrict imports of unsustainable palm oil.

With supply growth likely to accelerate into 2017 and seasonal demand fading after the Ramadan celebrations, he expects the downward trend of CPO prices will continue in the second half.

"Given the weaker prices of late, we downgrade our palm oil price target to 2,250 ringgit (524 U.S. dollars) per ton at year-end," he said.

According to Malaysian Palm Oil Board, CPO price has fallen to 2,543 ringgit per ton as of June 29, from its peak of 3,344 ringgit in February.

 

主站蜘蛛池模板: 好吊操在线视频| 一本加勒比HEZYO无码专区| igao视频网站| 韩国福利影视一区二区三区| 熟妇人妻久久中文字幕| 日本精品久久久久中文字幕| 国产成人亚洲综合| 九九久久精品国产AV片国产| 精品一区二区视频在线观看| 欧美高清在线视频在线99精品| 在线观看免费视频资源| 啊灬啊灬用力灬别停岳视频| 东北老头嫖妓猛对白精彩| 香蕉在线精品视频在线观看2 | 无码国产福利av私拍| 国产精品免费av片在线观看| 免费人成在线观看视频高潮 | 国产男女猛烈无遮挡| 亚洲AV无一区二区三区久久 | 国产精品成人va在线观看| 人妻少妇AV中文字幕乱码| 中国帅男同chinese69| 裸体跳舞XXXX裸体跳舞| 最新版天堂资源8网| 国产午夜鲁丝片AV无码| 亚欧洲乱码专区视频| 野花直播免费观看日本更新最新| 最新国产精品精品视频| 国产免费无码一区二区| 久久精品国产大片免费观看| 艹逼视频免费看| 日本免费大黄在线观看| 国产成人a毛片在线| 亚洲av无码成人精品区狼人影院 | 2021成人国产精品| 污视频网站免费观看| 处破痛哭A√18成年片免费| 伊人狠狠色丁香综合尤物| 67194熟妇在线观看线路| 欧美综合区自拍亚洲综合天堂| 国产盗摄女厕美女嘘嘘在线观看|