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Moderate recovery seen for M'sia's palm oil exports in 2021


Chief executive officer Datuk Dr Wan Zawawi Wan Ismail said the price forecast was based on uncertainties pertaining to the Covid-19 pandemic recovery, political situation and stimulus package
PETALING JAYA: Malaysia’s crude palm oil (CPO) exports are expected to see a moderate recovery with the CPO production reaching 19.6 million tonnes for 2021 compared with 19.14 million tonnes last year, the Malaysian Palm Oil Council (MPOC) said.
Chief executive officer Datuk Dr Wan Zawawi Wan Ismail said the price forecast was based on uncertainties pertaining to the Covid-19 pandemic recovery, political situation and stimulus packages.
“We forecast the average CPO price to be at RM3,846 per tonne for the first quarter and second quarter of 2021, ranging from a low of RM3,502 per tonne to a high of RM4,190 per tonne, ” he said at the virtual Palm Oil Internet Seminar 2021 yesterday. ....

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Malaysia's end-2021 palm oil stocks forecast to fall for third year


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FILE PHOTO: A worker unloads palm oil fruit bunches at a factory in Tanjung Karang, Malaysia August 14, 2020. REUTERS/Lim Huey Teng
KUALA LUMPUR (Reuters) - Malaysia’s palm oil inventories at the end of 2021 are projected to decline for a third consecutive year to 1.12 million tonnes, state agency the Malaysian Palm Oil Council (MPOC) said on Monday.
Stockpiles in the world’s second-largest producer plunged to 1.27 million tonnes last year due to a combination of labour and logistic challenges caused by the COVID-19 pandemic, and as wet weather conditions caused by La-Nina hurt yield.
The council is expecting a moderate recovery in exports and production this year while projecting month-end stocks to trend below 1.5 million tonnes for most parts of the year. ....

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