Global Palm Oil Output Forecast to Reach Record Levels in 2007/2008
29 May 2008 - Global palm oil output is expected to climb to a record 42 million tonnes this crop year, according to a new FAO report.
Malaysian palm oil production is estimated to rise by 9%, thanks mostly to yield improvements, whilst Indonesian palm oil output is seen to grow 11%.
Exports from
Asian palm inventories could approach 5 million tonnes, up 16% on the 2006/2007 season.
The 2008/2009 crop year should see a further increase in palm oil production in mature oil palm areas, adds the report.
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