Malaysia: Oilseeds and Products Update
Link to report:
Post is adjusting its Marketing Year (MY) 2020/21 crude palm oil (CPO) production forecast down 100,000 metric tons (MT) to 19.6 million MT as labor issues stemming from the COVID-19 pandemic continue to plague the industry. Post’s MY 2020/21 CPO consumption estimate has been adjusted down 150,000 MT due to increasing speculation that a nationwide shift from a 10 percent to a 20 percent biodiesel blend mandate (currently scheduled for mid-2021) won’t be realized until 2022. Post’s MY 2020/21 CPO export estimate has been adjusted up 400,000 MT based on media reports India recently reduced its customs duty on CPO imports. Also supporting increased Malaysian CPO exports in MY 2020/21 are reports from Indonesia indicating the country recently increased its CPO export levy.
