Palm Oil Supply And Outlook 2018
PREAMBLE
- The palm oil industry represented mainly by Malaysia and Indonesia (which account for some 85% of the global supply), had a good but challenging
- First – a strong recovery in production from the debilitating 2015 El Nino drought which hit output severely in 2016 (negative growth: -14%). Malaysia and Indonesia recorded strong double digits growth: +14% and +23% respectively but the scale and pattern of recovery was uneven and deviated considerably from the
- Second – we saw a steady increase in demand to match supply but was challenged by strong soybean production and
- Third – while the overall average price show further improvement in 2017 (+6%), there were considerable short-term volatilities due to the fluctuating supply recovery and demand.
- The strong supply recovery in 2017 triggered a roller-coaster price decline from the 3Q 17
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