Malaysian Crude Palm Oil Production Forecast to Rise 21% by 2020
20 July 2007
Bernama. Malaysian production of crude palm oil is expected to rise to 20 million tonnes annually by 2020, an increase of 21% from this year’s projected levels. Malaysia is the world’s leading producer of palm oil.
Production of palm oil this year is projected to reach 16.58 million tonnes, an increase of 4.4% over 2006. Last year, 4.13 million tonnes of palm kernel oil were also produced.
Plantation Industries and Commodities Minister Datuk Peter Chin Fah Kui said that export volumes had increased by 7.1% to 14.4 million tonnes last year compared to 2005. Export earnings increased by 11.7%.
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