AMERICAS REGION
Malaysian Palm Oil Exports Performance
January 2024
Regional Summary
The Americas region accounted for 3% of the total Malaysian palm oil and palm products exported in January 2024. Palm-based oleo assumed an important composition exported to the Americas with a market share of 36.3% or 20,965 MT from the total Malaysian palm oil and palm products exported to this region. The second most exported composition is other palm products at 19.1%, followed by palm oil at 18.6%, biodiesel at 13.8%, finished products at 7.3% and palm kernel oil at 4.9%.
| Table 1: Malaysian Palm Oil and Palm Products Export to the Americas | ||||
| Products | Jan 2024 |
Jan 2023 |
Change (MT) | Change (%) |
| Palm-Based Oleo | 20,965 | 18,411 | 2,555 | 13.9 |
| Other Palm Products | 11,020 | 0 | 11,020 | N/A |
| Palm Oil | 10,744 | 24,130 | (13,387) | (55.5) |
| Biodiesel | 8,002 | 0 | 8,002 | N/A |
| Finished Products | 4,249 | 3,937 | 312 | 7.9 |
| Palm Kernel Oil | 2,847 | 3,564 | (718) | (20.1) |
| Grand Total | 57,826 | 50,042 | 7,784 | 15.6 |
Source: MPOB
Featured Analysis
- Exports of Malaysian oil palm products to the Americas in Jan 2024 increased by 15.6% as compared to the volume in 2023. Palm-based oleo was the leading export product at 20,965, an increase of 14% Y-o-Y. Highest increments in terms of volume were recorded by other palm products. Declining volume were recorded by exports of palm oil and palm kernel oil.
- Palmitic acid, refined glycerine, and soap noodles were the three main components of Malaysian palm-based oleo products exported to this region were. Together, these three components made up for 43 % out of the total Malaysian palm-based oleo exported in 2024.
- Export of other palm products has increased substantially in which a large amount of used cooking oil (19%) was exported from Malaysia to the US. Export volume of biodiesel has also jumped due to higher intake from the US.
- USA, Trinidad and Tobago, Canada, Chile, Argentina, Uruguay, Dominica, Brazil, Mexico and Haiti were the top 10 export destinations for MPO in the Americas region within this period, accounting for about 92.5% or 9,939 MT of the total MPO export to this region.
- The export performance of MPO into the Americas showed a decline of 55.5%. The primary palm oil components exported to this region were RBD palm stearin, RBD palm oil and RBD palm olein. The United States (US) represented 53.7% of the MPO export to the Americas, making it the region’s largest MPO export destination.
Malaysian Oil Palm Products Export to the Americas
Malaysian oil palm products export to the Americas region during January 2024 period recorded an increment of 15.6%. The main export category was palm based oleo. In this category, the largest export was palmitic acid, which was primarily exported to Canada followed by refined glycerine to the US and soap noodles to Colombia.
The export of MPO to the Americas region ranked as the third highest export category. In January 2024, a total export volume of 10,744 MT was recorded against 24,130 MT which was registered during the same period of 2022 (refer to Table 2). This represents a decline of 13,384 MT or by 55.5%. In terms of market share throughout the Americas, the US dominates the palm oil industry.
The leading palm oil suppliers to the US consisted of Indonesia followed by Malaysia. During January 2024 period, total MPO exports to US went down to 5,775 MT from 19,795 MT which was recorded during the same period of last year. This is followed by Trinidad and Tobago, with a total MPO export of 958 MT, an increase of 6.9%. Canada, another important market for MPO in this region, has been consistently importing palm oil from Malaysia. Total MPO export to Canada slightly decline by 7.2% to 946 MT during January 2024 period from 1,020 MT registered during the same period last year (refer to Table 2).
Other markets with positive MPO import growth include Chile, Uruguay, Dominica, Brazil, Mexico, Barbados, Guatemala, Suriname and Jamaica. Chile recorded the highest increment in terms of volume, increasing by 433 MT while Uruguay recorded the highest increment in terms of percentage, increasing by 232.7%.
| Table 2: Malaysian Palm Oil Export to the Americas Region | |||||
|---|---|---|---|---|---|
| COUNTRY | January 2024 |
January 2023 |
Diff (Vol) | Diff (%) | |
| 1 | U.S.A | 5,775 | 19,795 | (14,020) | (70.8) |
| 2 | Trinidad and Tobago | 958 | 896 | 62 | 6.9 |
| 3 | Canada | 946 | 1,020 | (73) | (7.2) |
| 4 | Chile | 665 | 232 | 433 | 186.2 |
| 5 | Argentina | 406 | 434 | (28) | (6.5) |
| 6 | Uruguay | 358 | 108 | 250 | 232.7 |
| 7 | Dominica | 285 | 162 | 123 | 75.7 |
| 8 | Brazil | 230 | 93 | 138 | 148.2 |
| 9 | Mexico | 171 | 65 | 106 | 162.4 |
| 10 | Haiti | 144 | 571 | (427) | (74.8) |
| 11 | Panama | 142 | 270 | (128) | (47.4) |
| 12 | Barbados | 131 | 82 | 48 | 58.5 |
| 13 | Guyana | 129 | 175 | (45) | (26.0) |
| 14 | Guatemala | 120 | 60 | 60 | 100.0 |
| 15 | Suriname | 94 | 36 | 58 | 162.2 |
| 16 | Jamaica | 86 | 65 | 21 | 33.1 |
| 17 | Puerto Rico | 57 | 0 | 57 | N/A |
| 18 | Grenada | 25 | 0 | 25 | N/A |
| 19 | Belize | 21 | 0 | 21 | N/A |
| 20 | Peru | 0 | 67 | (67) | N/A |
| TOTAL | 10,744 | 24,130 | (13,387) | (55.5) | |
Malaysian Oil Palm Products Export to the US
In terms of MPO component breakdown to the US, RBD palm stearin, RBD palm oil and NBD palm olein are the top three products exported comprising almost 89% of the overall MPO export to US (refer to table 3). Despite being the most imported MPO component, RBD palm stearin has recorded a drop by 50.4%. Similar trend was observed in the exports of RBD palm oil, where export went down by 77.0% as well as for NBD palm olein, where export went down by 0.2%. Higher imports of rapeseed oil and tallow by the US offset the reduction of palm oil import besides competitive price of Indonesian palm oil going into the US market.
| Table 3: Breakdown of MPO Export to the US | ||||
|---|---|---|---|---|
| January 2024 | January 2023 | Diff (MT) |
Diff (%) |
|
| RBD PS | 4,104 | 8,283 | (4,178) | (50.4) |
| RBD PO | 522 | 2,267 | (1,745) | (77.0) |
| NBD PL | 500 | 501 | (1) | (0.2) |
| Palm Mid Fraction | 250 | 100 | 151 | 151.1 |
| Others | 399 | 8,645 | (8,246) | (95.4) |
| Total | 5,775 | 19,795 | (14,020) | (70.8) |
Other than palm oil, Malaysia also exported palm-based oleo, palm kernel oil, finished products and biodiesel to the US (refer to table 4). The top 5 exported items under the category of palm-based oleo are purified glycerine, stearic acid, palmitic acid, distilled palm oil fatty acid and distilled monoglyceride. The US recorded importing biodiesel and used frying oil from Malaysia for January 2024, driven by booming production of biodiesel.
| Table 4: Malaysian Oil Palm Products Export to the US |
||||
|---|---|---|---|---|
| January 2024 | January 2023 | Diff (MT) |
Diff (%) |
|
| Palm-Based Oleo | 11,909 | 9,582 | 2,327 | 24.3 |
| Palm Oil | 5,775 | 19,795 | (14,020) | (70.8) |
| Palm Kernel Oil | 1,449 | 2,572 | (1,123) | (43.7) |
| Finished Products | 1,584 | 1,337 | 248 | 18.5 |
| Biodiesel | 8,002 | 0 | 8,002 | N/A |
| Other Palm Products | 11,020 | 0 | 11,020 | N/A |
| Grand Total | 39,739 | 33,286 | 6,453 | 19.4 |
For more info please contact Mrs Nur Adibah
Email : nuradibah@mpoc.org.my
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