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Malaysia's palm oil export drops

Xinhua, March 11, 2015 Adjust font size:

Malaysia's palm oil exports fell 18.44 percent to 971,640 tons in February, the lowest since 2007, from a month earlier, the Malaysian Palm Oil Board (MPOB) said Wednesday.

In a statement issued here, the MPOB said the drop in palm oil export was due to lower demand from major importers -- China, Pakistan, the European Union and the United States.

MPOB said palm oil stocks also dropped 1.53 percent to 1.74 million tons in February from 1.77 million tons in January.

Meanwhile, crude palm oil (CPO) production also eased to 1.12 million tons in February from 1.16 million tons previously due to recent floods in palm oil growing areas in the east coast.

As one of the world's largest palm oil exporter, Malaysia currently accounts for 39 percent of world palm oil production and 44 percent of world exports. Endi