Global palm oil output seen up by 2.9 mln tonnes in 2022/23 – Thomas Mielke
Global palm oil output is seen increasing by 2.9 million tonnes in the 2022/23 season, leading industry analyst Thomas Mielke said in a conference on Friday.
Vegetable oil prices have been volatile this year and the volatility could happen again in 2024 if production did not increase and if biodiesel policies were not made with thorough consideration, said Mielke, head of Hamburg-based analyst firm Oil World.
Palm oil production during Jan-Dec in 2022 is expected to be 78.3 million tonnes, he told participants, noting that the output trend has been on the downtrend in recent years, which he said was “alarming.”
Meanwhile, he estimated soybean output in 2022/23 would increase by 34 million tonnes to 390 million tonnes.
Read also
Ukraine. Grain flows: Steady sea freight, exports up
Brazil’s soybean export forecast has been revised upward, putting pressure o...
The world wheat market in MY 2025/26 will reach record levels — IGS
COFCO has signed multi-billion dollar deals to purchase Brazilian soybeans and edi...
Agrometeorological conditions in Ukraine in November favored the growth and develo...
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon