According to the results of Friday's export price of palm oil fell $ 2 a day. to 698 USD./ton, during the week the reduction is -2,79%. One of the pressures was the withdrawal from circulation of large banknotes in India.. the market Operators are concerned that the lack of cash from the Indian importers of palm oil can have a negative impact on the pace of exports from Malaysia. At the moment, Indian customers are trying to cancel the November contracts.

In December, the processors of crude palm oil in India predict a decline in purchases by 20% compared to current month, as wholesalers of finished products will not be able to receive payment in cash for their goods from retailers. palm oil Malaysia

Traditionally, at the end of the year, export sales of palm oil in China and India reduced due to a seasonal strengthening of palm oil prices, informs UkrAgroConsult. However, in the current year decrease in shipments more noticeable. According to surveyors Intertek, 20 days November export shipments from Malaysia declined by 8.25% compared to the same period in October.

Given the current trend in December exports towards India is expected to reach 520 thousand tons, while in December 2015. he was 790,36 thousand tons, according to Indian oilseed processors Association (SEA).