PALMOILMAGAZINE, KUALA LUMPUR – In 2023, Malaysia’s crude palm oil (CPO) production hit 18.55 million metric tons, showing a slight increase of 0.53% compared to the previous year. This data, sourced from the Malaysian Palm Oil Board (MPOB), represents the latest figures concerning supply and demand up to December.
During that month, CPO production notably declined by 13.3% from November, totaling 1.55 million metric tons, in line with MPOB’s projections. However, production exceeded many industry forecasts, which ranged from about 1.6 to 1.61 million metric tons, aligning with discussions from Reuters and Bloomberg.
The drop in CPO output in December is typical due to seasonal patterns, with production usually reaching its lowest point during this period. Yet, the actual production fell short of expectations, signaling potential challenges and issues within the production process.
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As Palmoilmagazine.com quoted from PalmOilAnalytic, compared December 2023, December 2022 CPO production got lower in numbers that reached 1,62 million metric tons. The numbers were better from the average in the past decade that reached 1,53 million metric tons. This showed the production maintained its level though there was short term – fluctuation.
CPO small increasing number – production in 2023 might mean that palm oil industries in Malaysia maintained stable output level when facing the challenges and issues, including the market fluctuation, the weather, and regulation substitution. In the future, the stakeholders in the country would pay attention wisely and adjust the strategies to effectively navigate the dynamic market situation. (T2)
