El Nino To Impact Malaysia's Palm Oil Output In 2024
According to the MPOB, Malaysia's crude palm oil production may lessen by one to three million tonnes because of the El Nino weather. This was announced on May 25.
The El Nino won't impact production this year. This is because it takes 15 to 18 months for the effect on production to show. The regulator's director told reporters about this. His name is Ahmad Parveez Ghulam Kadir.
During the 2016 El Niño, there was a 20% decrease in production in the world's second largest producer. Ahmad Parveez said that this year, the decrease in production will not be as severe. This is due to better planting materials and improved labour conditions.
The worst that could happen is a decrease of three million tons. It would be more noticeable in Sabah and Sarawak on Borneo. This is forecasted by an expert.
Ahmad Parveez predicts that Malaysia's crude palm oil price will go up to RM3,800 and RM4,000 per tonne due to weather changes.
In 2023, we expect to produce 19 million tonnes. Last year, we produced 18.45 million tonnes.
"The price for 2023 will stay at RM4,200 per tonne," said the person in charge.
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