Palm Oil Exports Set to rise following tax Incentive Provided by Malaysian Government. Indonesia, the world largest palm oil producer,might also follow the suit
LEWES, DELAWARE, DELAWARE, UNITED STATES, January 10, 2018 /EINPresswire.com/ — Malaysia could see rising demand for palm oil from key overseas buyers in the coming weeks following its decision to suspend export taxes on crude palm oil for three months from Monday
Malaysia currently accounts for 39% of world palm oil production and 44% of world exports. If taken into account of other oils & fats produced in the country, Malaysia accounts for 12% and 27% of the world's total production and exports of oils and fats. Being one of the biggest producers and exporters of palm oil and palm oil products, Malaysia has an important role to play in fulfilling the growing global need for oils and fats sustainably.
We are going to see buying coming in from China ahead of the Lunar New Year. India will also restock in the first and second quarter of the year as they have low stock levels," said a Kuala Lumpur-based trader, who estimates that Malaysian palm oil exports could pick up 10-15 percent on a monthly basis.
Malaysia usually calculates a reference price each month to determine the crude palm oil export duty rate, whereby a price above 2,250 ringgit ($563) incurs a tax.
Its last calculated reference price for January was 2,623.31 ringgit per tonne, effectively incurring a 5.5 percent tax rate. Official data showed stocks grew 16 percent in November, from October, to 2.56 million tonnes due to weak exports. Inventories are seen rising further to 2.69 million tonnes at the end of December – the highest in over two years – according to a Reuters poll.
The price of palm oil tumbled nearly 20 percent in 2017, and was up 0.35 percent at 2,594 ringgit ($649.31) at the close of trade on Friday.
The trader, however, cautioned that the impact of the tax suspension could be muted by gains in the ringgit, which advanced to 3.9950 per U.S. dollar on Friday, breaking the psychologically significant 4 level.
This report focuses on the Palm Methyl Ester Derivatives in Global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.
Market Segment by Manufacturers, this report covers
Market Segment by Regions, regional analysis covers
North America (USA, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
Crude Palm Oil (CPO)
Palm Kernel Oil (PKO)
Market Segment by Applications, can be divided into
Personal Care & Cosmetics
Lubricant & Additives
There are 15 Chapters to deeply display the global Palm Methyl Ester Derivatives market.
Chapter 1, to describe Palm Methyl Ester Derivatives Introduction, product scope, market overview, market opportunities, market risk, market driving force;
Chapter 2, to analyze the top manufacturers of Palm Methyl Ester Derivatives, with sales, revenue, and price of Palm Methyl Ester Derivatives, in 2016 and 2017;
Chapter 3, to display the competitive situation among the top manufacturers, with sales, revenue and market share in 2016 and 2017;
Chapter 4, to show the global market by regions, with sales, revenue and market share of Palm Methyl Ester Derivatives, for each region, from 2012 to 2017;
Chapter 5, 6, 7, 8 and 9, to analyze the market by countries, by type, by application and by manufacturers, with sales, revenue and market share by key countries in these regions;
Chapter 10 and 11, to show the market by type and application, with sales market share and growth rate by type, application, from 2012 to 2017;
Chapter 12, Palm Methyl Ester Derivatives market forecast, by regions, type and application, with sales and revenue, from 2017 to 2022;
Chapter 13, 14 and 15, to describe Palm Methyl Ester Derivatives sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source
Note: Custom data can also be provided upon request with addidtional cost.
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Source: EIN Presswire