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

Published 2021년 6월 8일

Tridge summary

Malaysia's palm oil industry is expected to see a boost in 2021, with increased production, oil extraction rate, and exports, led by favorable weather conditions and higher yields. The country aims to reach production figures of 22 million mt by 2025 and 25 million mt by 2030. Despite the pandemic, palm oil milling operations in Malaysia have not been significantly affected. However, the industry faces challenges such as labor shortages, with dependency on manual harvesters and the need for mechanization. The Malaysian Palm Oil Board's Director General believes that collaboration from various stakeholders is necessary to overcome these challenges.

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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