The volume of crude palm oil (CPO) production in Malaysia may reach about 19 million tons in 2023, according to the forecast of the national MPOB (Malaysian Palm Oil Board). In particular, the announced figure is expected to exceed last year’s output by 0.5 million tons.
“Increased production of the product combined with the current subdued exports (reduced demand, particularly by India) has led to an increase in palm oil stocks in the Malaysia, as of the end of July reaching the maximum of the last 5 months,” experts said.
Also, according to preliminary forecasts, in the current year. the supply of Malaysian crude palm oil abroad will also increase – from 15.7 million tons (2022) to 16 million tons.