The USDA indicates an increase in oilseed production, which accelerates the downward pressure on Thai palm oil prices

Mr. Chanthanon Wannakhejorn, Secretary-General of the Office of Agricultural Economics (Sor Kor.), Ministry of Agriculture and Cooperatives Discussing the production situation and demand for oil palm in Thailand in 2023 (April 2023 forecast data), OAE forecasts that there will be 6.252 million rai of fruitful areas, an increase from 6.150 million rai in 2022 (1.66% increase). ) The total output of oil palm was 19.892 million tons, an increase from 2022 at 19.061 million tons (4.36 percent increase). tons (increased by 4.37%), with output in the form of crude palm oil will gradually be released into the market on average 0.264-0.330 million tons per month, while the average domestic demand is 0.225 million tons per month, resulting in an increase in the cumulative surplus of crude palm oil on average from 0.039 - 0.105 million tons per month. During the first half of the year, the price of crude palm oil in the world market remained at a high level. As a result, Thailand continues ...