Palm Oil Export to India to Exceed 1.82 Million Tonnes in 2012

By Saraswathi Muniappan MUMBAI, June 7 (Bernama) – Malaysia’s palm oil export to India is expected to exceed 1.82 million tonnes in 2012, Plantation Industries and Commodities Minister Bernard Dompok said on Thursday. “This year, even though it is still too early to tell what the final figure will be, the observation during the first quarter of 2012 looks very promising, with Malaysia’s export of palm oil products to India expected to exceed what was recorded last year,” he said. He said palm oil import by India in the first quarter of 2012 almost doubled to 576,645 tonnes from 286,214 tonnes in the first quarter of 2011. Malaysia exported more than 1.82 million tonnes of palm oil products to India in 2011 valued at RM6.03 billion (US$1.91 billion), he said after officiating the Malaysia-India Palm Oil Trade Fair & Seminar (POTS) here on Thursday. He said India’s importance to the Malaysian palm oil industry is reflected in the ongoing efforts such as the hosting of POTS in India. “This is testimony to the importance placed on India's market potential by the Malaysian palm oil industry,” he said. -- BERNAMA