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Local palm oil buyers boost imports from Indonesia

KUALA LUMPUR: Malaysian buyers are ramping up imports of Indonesian palm oil as local supply battles to recover from the lingering impact of last year’s crop-damaging El Nino weather pattern.

Traders said world No 2 producer Malaysia was set to boost imports of palm oil and related products from top grower Indonesia by about 20,000 tonnes in March from typical monthly volumes of around 40-50,000 tonnes.

The two countries churn out nearly 90% of the world’s palm oil, used to make products ranging from cooking oil and chocolate to soap and cosmetics.

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