MPOC: Malaysian Palm oil production to increase to 19.6 million tonnes in 2021

Published 2021년 1월 5일

Tridge summary

The Malaysian Palm Oil Council (MPOC) predicts a slight increase in the country's palm oil production by 200,000 tonnes to 19.6 million tonnes in 2021, due to the La Nina weather pattern potentially causing disruptions in global supply. Despite this, the production figure is lower than the 19.8 million tonnes produced in 2019. India is expected to be a major market for Malaysia's crude palm oil (CPO) exports, which are estimated to be at 4.5 million tonnes, benefiting from lower prices compared to other oils. However, exports to China may be challenged due to lower prices of other oils.

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Original content

KUALA LUMPUR (Jan 5): Total Malaysian palm oil production is expected to increase slightly by 200,000 tonnes to 19.6 million tonnes in 2021, versus 19.4 million tonnes a year ago, according to the Malaysian Palm Oil Council (MPOC). However, this also means that the projected Malaysian palm oil production still fell short against 19.8 million tonnes in 2019. Going into 2021, MPOC chief executive officer Datuk Dr Kalyana Sundram, in a virtual conference at the Palm Oil Trade Fair and Seminar 2021 today, said the palm oil global supply is expected to be affected by the La Nina weather pattern. “Disruptions from persistent heavy rainfall in Southeast Asia in 2020 may lead to tight global supply this year,” he added, noting that there will be a deficit in the global supply of vegetable oils as unfavourable weather disrupting production of soybean, sunflower and rapeseed oil will continue to put pressure on the edible oil prices. Meanwhile, Malaysia’s crude palm oil (CPO) export is ...

Source: Theedgemarkets