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KUALA LUMPUR: Malaysian palm oil production in 2024 should come in at 18.75 million tons, amid improving labour conditions, industry regulator Malaysian Palm Oil Board (MPOB) said on Thursday.
MPOB’s director-general Ahmad Parveez Ghulam Kadir told a seminar that stocks in the world’s second-largest producer are expected to be around 1.95 million metric tons this year, compared with 2.29 million tons in 2023.
Exports are seen at 15.6 million tons versus 15.1 million tons last year, while the price of crude palm oil should range between 3,900-4,200 ringgit per ton, he said.
2023 showed a mixed performance, while 2024 is expected to show a better performance with most key indicators improving, he said. – Reuters
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