Malaysia: Oilseeds and Products Annual
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Post forecasts Malaysian crude palm oil (CPO) production in marketing year (MY) 2019/20 at 19.7 million metric tons (MT), a decrease of 1.15 million MT compared to the previous year. This estimate is based on abnormally dry weather, decreased fertilizer use (due to high costs the previous year), and short-term, COVID-19 related disruption in the industry. MY 2020/21 CPO production is forecast at 20.7 million MT. This robust increase (compared to the previous year) is based on an assumption of more regular weather patterns, a cyclical rebound after plantations recover from drought-induced tree stress, and the continuation of a downward trend in fertilizer costs.
