MARKET DEVELOPMENT
Malaysian 2017 Palm Oil Output Forecast to Rise 12 Pct Y/Y -MPOB
Malaysian 2017 Palm Oil Output Forecast to Rise 12 Pct Y/Y -MPOB
17/01/2017 (Reuters) - Malaysia's palm oil output may rise by 12 percent this year to 19.4 million tonnes from 17.4 million tonnes in 2016, an industry group forecast on Friday.
"CPO production we anticipate will improve, an increase of about 12 percent, I think it's a good increment, so as not to affect the price," Ahmad Kushairi, the director general for Malaysian Palm Oil Board (MPOB) said at a conference in Kuala Lumpur.
He added that palm oil exports for the year would rise 11.2 percent to 17.85 million tonnes from 16.05 million tonnes in 2016.
Crude palm oil prices will be firm in 2017, he said.
"CPO production we anticipate will improve, an increase of about 12 percent, I think it's a good increment, so as not to affect the price," Ahmad Kushairi, the director general for Malaysian Palm Oil Board (MPOB) said at a conference in Kuala Lumpur.
He added that palm oil exports for the year would rise 11.2 percent to 17.85 million tonnes from 16.05 million tonnes in 2016.
Crude palm oil prices will be firm in 2017, he said.