Malaysia: Oilseeds and Products Update

FAS Kuala Lumpur (Post) projects a slight decrease in palm oil production in Market year (MY) 24/25 to 19.2 million metric tons (MT) on recent weather challenges and lower than average production in the beginning months of the MY. With palm oil at a premium to competing vegetable oils, Post estimates a decrease in exports of approximately 770 thousand MT for MY 24/25. Meanwhile, with soybean prices returning closer to average on recovering production from major suppliers, Post estimates MY 24/25 imports of soybean to increase to 725 thousand MT, with increases in imports of soybean oil and soybean meal also forecasted for MY 24/25. Noting Malaysia’s increase in production of used cooking oil (UCO) and its high demand globally, FAS Kuala Lumpur projects an increase in food use consumption of palm oil to 880 thousand MT, to account for increased frying of palm oil.