Data from Malaysia's Department of Statistics include exports of palm oil, palm oil-based products, wood-based products, natural rubber, rubber-based products, cocoa beans, tobacco and pepper.
Around 40.3% of the earnings came from shipments of palm oil and palm-based products.
Palm oil exports in the period were estimated at 10.7 million metric tons, up around 2.3% from 10.4 million in the first eight months of last year.
State-linked Malaysian Palm Oil Board earlier estimated August palm oil exports at 1.32 million tons.
Total exports of palm oil and palm-based products including palm kernel oil, palm kernel cake and oleochemicals were estimated at 15.3 million tons during January-August, up 3.4% compared with the same period a year earlier. Value of the exports were estimated to have dropped by 28% to MYR32.7 million tons, as palm oil prices are sharply below last year's rise in prices.
To-date, CPO prices on the Bursa Malaysia Derivatives have been trading mostly in a MYR1,700-MYR2,800/ton range while palm oil prices surged last year, rising to a record high of MYR4,486 on March 4, 2008.
Earlier this week, Malaysia's Plantation Industries and Commodities Minister Bernard G. Dompok projected that palm oil export earnings would decline by 25% this year from MYR65.2 billion in 2008.
Natural rubber exports during the January-August period were estimated at 438,300 tons, down 35% from 669,990 tons a year earlier.
In value terms, exports were estimated at MYR2.5 billion, down 57.5% from a year earlier.
Exports of rubber and rubber-based products during January-August period were worth an estimated MYR10.3 billion, down 28% from a year earlier.
Export data for commodities exclude figures for petroleum and petroleum-based products.
In value terms, exports of commodities and commodities-based products accounted for a 16.8% share of total merchandise exports in the January-August period, a tad lower from 17.2% a year earlier.
(Source: irco.biz)
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