Malaysia: Oilseeds and Products Update

  |   Attaché Report (GAIN)   |   MY2021-0013

Post is adjusting its MY 2021/22 crude palm oil (CPO) production forecast down 1.5 million metric tons (MT) from the USDA Official estimate to 18.2 million MT. Acute COVID-19 related labor issues are expected to negatively impact the Malaysian palm oil industry as the Government of Malaysia (GoM) has not finalized a decision to allow foreign workers to work in the sector. As the price of CPO is expected to stabilize in 2022, CPO export is forecast to recover slightly to 16.5 million tons, though this recovery will continue to be restrained by production limitations. CPO production for MY 2020/21 is revised slightly to 17.9 million MT. Exports for MY 2020/21 are revised to 15.5 million tons, a drop of 0.6 million tons from the USDA Official estimate, as all-time high CPO prices throughout 2021 prompt some buyers to switch from palm oil to other vegetable oils. Slower than expected recovery in global vegetable oil demand due to the COVID-19 pandemic also contributed to low export demand for palm oil.

Related Reports

Attaché Report (GAIN)

Thailand: Rice Price - Weekly

Rice export prices increased slightly despite the weakening of the Thai baht.
Attaché Report (GAIN)

South Korea: Grain and Feed Update

This report provides updates to the Korea Rice Production 2022 report issued by FAS/Seoul on June 28, 2022, based on new data released by the Korean Ministry of Agriculture, Food, and Rural Affairs (MAFRA) in December 2022.
Attaché Report (GAIN)

China: Offloading Old Stock Rice Through Annual Auction

The People’s Republic of China (PRC) will re-start old crop rice auctions for feed use beginning in March 2023 to rotate out older stocks, to provide grain alternatives, and to temper rising feed grain prices.