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Palm oil opportunities: India and China demand for Malaysian palm oil likely to rise this year as economies open up By Pearly Neo Malaysian palm oil is expected to see a rise in demand from India and China this year as economies gradually open up and local stocks diminish, but the industry must improve logistics and digital reach to effectively capitalise, according to industry experts.
The experts - Malaysian Palm Oil Council (MPOC) Deputy Director Faisal Iqbal, Malaysian palm oil products manufacturer Alami Group Managing Director Ahmed Alami, and agriculture research firm Refinitiv Senior Analyst Dr Tan Kian Pang - convened at a virtual seminar on palm oil price trends and market expectations for 2021.
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Palm oil inventories in Malaysia, the world’s second largest producer and exporter, will remain low throughout the year and continue to support high prices, the Malaysian Palm Oil Council (MPOC) said. Output in top producers Indonesia and Malaysia fell last year due to wet weather and labour shortages, pushing Malaysia’s stockpile at the end of .
Palm oil inventories in Malaysia, the world's second largest producer and exporter, will remain low throughout the year and continue to support high prices, the Malaysian Palm Oil Council (MPOC) said on Wednesday. Output in top producers Indonesia and Malaysia fell last year due to wet weather and labour shortages, pushing Malaysia's stockpile at the end of 2020 to a more than 13-year low of 1.27 million tonnes. Although production is expected to rise, Malaysia's state agency and industry body MPOC only saw a small increase in inventory as exports are expected to grow.