Malaysia increases palm oil production and exports

Last month, Malaysia produced about 1.75 million tons of palm oil, analysts at Hamburg-based OilWorld (Germany) calculated. They note that this result is 13.5% higher than in April and 12.3% higher than the final figure for May 2023.

Against the backdrop of increased production, according to experts, palm oil shipments from the country in the reporting period increased to 1.38 million tons compared to 1.08 million tons in May 2023.

Overall, Malaysia has produced 7.26 million tons of palm oil since the beginning of the year (January-May) against 6.65 million tons in January-May 2023, while exports strengthened from 5.92 million tons to 6.31 million tons.

Inventories by the end of the month, meanwhile, also picked up, from 1.69 million tons to 1.75 million tons.

Tags: Malaysia, palm oil, crop forecast, export