Production of palm oil in Malaysia in 2023 will grow by 500 thousand tons compared to last year – up to 19 million tons. According to the National Association MPOA, in the short term prices for Malaysian products will remain at 4000 ringgit per ton (Euro 892).
At the same time, experts warn that the number of “aged” palm trees is growing in Malaysia. Their replanting in local plantations is rather slow due to high costs.
“Old oil palms are tall and unproductive. They are usually replanted with new seedlings, which are more productive, stunted and resistant to drought and disease,” the report said.
According to the executive director of MPOA Joseph Tek, in one of the largest Malaysian states – Sabah – oil palms on more than 500 thousand hectares (36% of the total area in the country) have been growing for almost 20 years. At the same time, the region accounts for almost a quarter of national production.
The expert also added that over the past three years, due to the weather phenomenon of La Niña, significant damage has been caused to the root systems of oil palms.
“It can take a long time for them to recover, even with a comprehensive application of foliar fertilizers,” he summarized.
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