Malaysia expects lower palm oil prices in 2025 due to high global output and stable demand

게시됨 2024년 10월 23일

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Malaysia expects crude palm oil prices to average between 3,500 and 4,000 ringgit per ton in 2025, slightly lower than 2024 due to tightening global supplies. In October 2024, prices reached a six-month high of 4,350 ringgit per ton, driven by lower fresh fruit production and dry weather. The palm oil industry is set to grow with increased harvesting areas, favorable weather, and sufficient labor, while exports are projected to rise by 2.3% in 2024, with India as the largest market. The price increase is linked to stronger Brent crude oil prices, lower inventories, and a weaker ringgit. Malaysian palm oil futures have been rising, with the January 2025 contract closing at 4,449 ringgit per ton on October 23, 2024. Global vegetable oil market dynamics, including EU soybean and palm oil import trends, also affect palm oil prices.

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원본 콘텐츠

Accordingly, Malaysia expects crude palm oil prices to average 3,500 - 4,000 ringgit/ton in 2025, slightly lower than the expected 3,800 - 4,300 ringgit/ton this year as global palm oil supplies tighten. Malaysian crude palm oil prices in October 2024 reached a 6-month high of 4,350 ringgit/ton. Fresh fruit production is below expectations, affecting crude palm oil output in the second half of 2024, as dry weather affects the quality of young fruit. The palm oil industry is expected to grow, supported by high output due to larger harvesting areas, favorable weather conditions and sufficient labor force. In terms of exports, the world's second-largest palm oil producer is expected to grow by 2.3% in 2024 due to rising demand for crude palm oil, especially from India, Bangladesh, Germany, Iran and the Philippines. As the world's most widely used edible oil, the palm oil industry has contributed an average of 5-7% to Malaysia's gross domestic product over the past five years and ...

출처: Vinanet