Malaysian palm oil exports to US rise 52% y/y in January-May

KUALA LUMPUR, July 31 (Reuters) - Malaysian palm oil exports to the United States during January-May rose 51.8% from a year earlier to 93,000 metric tons, the Plantation and Commodities Ministry said.

The United States is not a primary market for Malaysian palm oil, but the 25% tariff Washington has imposed on imports from the Southeast Asian country effective August 1 still requires attention, the ministry said in a parliamentary reply posted on parliament's website on Wednesday.

Malaysia exported 191,231 tons of palm oil to the United States last year, representing 1.1% of its total palm oil exports, according to data from the Malaysian Palm Oil Board.

The ministry said 65% of Malaysia's palm oil exports to the United States last year were in the form of sustainably certified products and used for high-value products, while another 19% of the exports consisted of palm stearin, a main ingredient in the food industry and personal care products.

The ministry early this month said U.S. importers would have to bear the cost of additional tariffs on palm oil, as there was no alternative to the commodity in the United States.

Malaysia is still negotiating with Washington to reduce the tariff rate, with Trade Minister Tengku Zafrul Aziz saying that the country was aiming for the lowest possible tariff on goods exported to the United States.