Oil world predicts tight global palm oil supply
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Last Update: 2002-07-25
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Source: Internet
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Author: User
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Introduction: oil world claims that the global palm oil supply in October December this year may be 6.2% lower than last year, to 9.63 million tons The decline in supply is due to a possible 16% drop in palm oil stockpiles on October 1 to 3.31 million tons from the same period last year The biggest expected declines are in Malaysia, Indonesia and China Global palm oil production increased by 5.2% in this quarter, and it is estimated that palm oil production in October December may be 6.33 million tons, the same as last year This is mainly due to the decline in unit production, especially in Malaysia, Indonesia, Papua and some other countries in Southeast Asia It is estimated that global palm oil consumption in October December may increase to 6.46 million tons from 6.13 million tons in the same period last year Palm oil stockpiles are estimated to have declined to 3.25 million tons on 31 December 2002, from 3.95 million tons in the same period last year The annual supply in the new market will remain tight, but the strong demand means that the global palm oil export may increase from 13.2 million tons in the same period of 2002 to 13.45 million tons in January September 2003 According to our analysis, palm oil prices need to fall sharply to promote sales in the face of a sharp decline in export growth, oil world claims.
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