LIVE FORECASTS - First USDA estimates for 2021-22 Malaysia palm oil production
13.04.2021 (www.agrimoney.com) - The US Department of Agriculture’s Kuala Lumpur bureau issued it first estimates for palm oil output in the world’s second largest producing country for the 2021-22 season.
The bureau forecast 2021-22 (October-to-September) production to increase to 20m tonnes, a 1m-tonne increase on the latest USDA estimates for the 2020-21 season.
Total consumption is expected to increase slightly, from 3.475m tonnes in the 2020-21 season to 3.59m tonnes in 2021-22. While industrial consumption is also forecast to increase marginally, to 2.8m tonnes in 2021-22 after the latest Wasde update put this season’s estimate at 2.6m tonnes.
Exports are also predicted to see a fractional increase to 17.5m tonnes in 2021-22.
The harvested area for next year’s crop is forecast to stay stable, at 5.4m hectares.
To view the live forecast tables for the 2022 season please click here.
The live forecast table for 2021 can be found by clicking here.