MARKET DEVELOPMENT
Global palm oil supply won't reach pre-pandemic levels next year — analyst Fry
Global palm oil supply won't reach pre-pandemic levels next year — analyst Fry
02.12.2021 (www.theedgemarkets.com) - JAKARTA (Dec 2): The global supply of palm oil will see only "minimal growth" in the 2019-2022 period, due to production issues caused by unfavourable weather and labour disruption in Malaysia, leading analyst James Fry said on Thursday.
"It will take another 12 months before Southeast Asian palm oil output is running ahead of its level at the end of 2019," Fry said, despite improved output expected out of Indonesia in the second half of next year.
"In other words, I anticipate three full years with no growth," he told a virtual conference.