Singapore-based Palm Oil Analytics owner and co-founder Dr Sathia Varqa said 2021 and 2022 are set to be bullish years for the palm oil market with historic high CPO prices supported by fundamentals and significantly by sentiments.
He expects Malaysia’s palm oil production is poised for a rebound by about 6% year-on-year (YoY) to 19.2 million tonnes in 2022 after plunging to the lowest level in five years in 2021.
He said exports are predicted to recover from a low base in 2021 as economies across the world re-opened on the back of the higher vaccination rates against the Covid-19 virus.
By: via Malaysian Palm Oil Council Russia
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