This happens for the first time in 20 years, according to the Agency "Reuters". This is attributed to the increase in the production of other oils in India (world's largest importer of palm oil) and lower demand in China and Europe.
This year it is expected that India will have produced a record 8 million tonnes of rapeseed, due to the increased production of rapeseed oil and reduced dependence on palm oil. This will affect the supply of palm oil to India, which will remain unchanged at 15 million tons.
Malaysia reduced supplies of palm oil to the European Union. In February 2019 was shipped 264 thousand tons, while in February 2018 — 406 thousand tons. This happened as a result of increasing the supply of soybeans from America to Europe, and rising production of soy oil.
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Translated by service "Yandex.Translation"
