Malaysia: Crude palm oil price to average at RM3,800 a tonne in 2022 on improved production - MPOB

Published 2022년 1월 13일

Tridge summary

The Malaysian Palm Oil Board (MPOB) predicts that the crude palm oil (CPO) price will average at RM3,800 per tonne in 2022 due to improved production. The CPO production is expected to increase by 4.9% to 19 million tonnes, and stocks by 23.4% to 1.95 million tonnes. Exports are projected to rise by 9.3% to 17 million tonnes. However, export revenue is expected to decrease to RM95 billion from RM106.50 billion. The industry experienced a mixed performance in 2021 due to a decrease in CPO production, but the average CPO price surged by 64.1% to a record high at RM4,407 per tonne.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

PUTRAJAYA (Jan 13): Crude palm oil (CPO) price is expected to average at RM3,800 per tonne in 2022 on improved palm oil production, in line with the performance of other major vegetable oils prices amid the recovery in production and stock, the Malaysian Palm Oil Board (MPOB) said. Director-General Datuk Dr Ahmad Parveez Ghulam Kadir said CPO production is expected to improve 4.9% this year to 19 million tonnes from 18.12 million tonnes recorded in 2021, while stocks are projected to pick up 23.4% to 1.95 million tonnes versus 1.58 million tonnes last year. “We foresee exports to increase 9.3 per cent to 17 million tonnes this year from 15.56 million tonnes previously,” he said during a presentation at the one-day Palm Oil Economic Review and Outlook Seminar (R&O) 2022 organised by MPOB on Thursday (Jan 13). Ahmad Parveez emphasised that 2022 is expected to bring a brighter prospect for the Malaysian palm oil industry with all key industry indicators projected to show a better ...

Source: Theedgemarkets