The Malaysian palm oil market is expected to remain uncertain and experience only a little growth in 2023. This is due to concerns of global economic slowdown and uncertainties in weather patterns, the impact of war in Ukraine as well as the risks of inflation, said Malaysian Palm Oil Board (MPOB) DG Datuk Ahmad Parveez […]
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The Malaysian palm oil market is expected to remain uncertain and experience only a little growth in 2023. This is due to concerns of global economic slowdown and uncertainties in weather patterns, the impact of war in Ukraine as well as the risks of inflation, said Malaysian Palm Oil Board (MPOB) DG Datuk Ahmad Parveez Ghulam Kadir. Crude palm oil (CPO) prices are expected to be lower this year on expectations of weaker prices of other competing oils due to higher supply availability of oils and fats in the global market, as well the strengthening of the ringgit against the US dollar. “There will be a high volume of CPO production, driven mainly by favourable weather conditions and improvement in the labour situation as the application for foreign workers has been approved in stages,” Ahmad Parveez told The Malaysian Reserve (TMR). Meanwhile, Maybank Investment Banking Group Research (Maybank Research) said there would be some palm oil production recovery in 2023. “Oil World, in ...
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