Malaysia's exports of commodities and commodity-based products in the first 10 months of 2009 fell 23% to around MYR74.6 billion ($22 billion), government data showed Friday.
The January-October data include exports of palm oil, palm-based products, natural rubber, rubber-based products, cocoa beans, tobacco, pepper and wood-based products.
Around 40.5% of the earnings came from palm oil and palm-based shipments.
Palm oil exports during the period are estimated at 13.3 million metric tons, up from 13.2 million tons in the first 10 months of 2008.
In October, palm oil exports were estimated around 1.42 million to 1.43 million tons. The Malaysian Palm Oil Board had earlier put October palm oil exports at 1.48 million tons.
January-October exports of palm oil and all palm-based products, which include palm kernel oil, oleochemicals and palm kernel cake, were estimated at 19 million tons, up 1.5% on year from 18.7 million tons.
The export value of palm oil and palm-based products during the January-October period declined 26% on year to an estimated MYR41.8 billion, as palm oil prices this year are half of last year's record high.
The palm oil export value rose to MYR65.2 billion last year as CPO prices surged to a record high of MYR4,486/ton in March 2008
Due to the slump in palm oil prices early this year, earnings from palm oil exports may fall by 25%, the Malaysian government said last month.
Natural rubber exports during the January-October period were estimated at 567,750 tons, tumbling 31% from 818,380 tons a year earlier.
Export earnings from natural rubber and rubber based products were estimated at MYR13.34 billion, down 26% from MYR17.94 billion in the same period last year.
Export data for commodities exclude earnings from petroleum and petroleum-based products.
(Source: irco.biz)
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