Malaysia 2021 palm oil output seen up on better weather and yield

RBD Palm Oil

Malaysia

Published Jun 9, 2021

Tridge summary

Malaysia's key crude palm oil (CPO) numbers are expected to strengthen in 2021 over the last year's levels, led by the industry's improved prospects from favorable weather conditions and better yields, said Malaysian Palm Oil Board's Director General Ahmad Parveez Ghulam Kadir. Ahmad Parveez said Malaysia's CPO production, oil extraction rate (OER), and palm oil exports will stay at higher levels this year, with India leading the global vegetable oil consumption story.

Original content

Malaysia's key crude palm oil (CPO) numbers are expected to strengthen in 2021 over the last year levels, led by the industry's improved prospects from favorable weather conditions and better yields, said Malaysian Palm Oil Board's Director General Ahmad Parveez Ghulam Kadir. Ahmad Parveez said Malaysia's CPO production, oil extraction rate (OER) and palm oil exports will stay at higher levels this year, with India leading the global vegetable oil consumption story. "India is anticipated to be the main driver for the palm oil demand growth...another market which is expected to grow significantly in 2021 would be Turkey, arising from expected insufficient supply availability of sunflower oil," the MPOB chief said in an interview with S&P Global Platts. However, he didn't provide any palm oil production figure for 2021. Malaysia produced 19.14 million mt of CPO in 2020, according to MPOB data. But, in the longer term, Ahmad Parveez expects Malaysia's palm oil production to reach 22 ...

Source: Spglobal