Growth seen in Malaysian palm oil industry this year due to positive outlook

KUALA LUMPUR: The Malaysian palm oil industry is expected to show growth in 2024 in light of recovery in labour supply, improved palm oil price projections and heightened demand from key export destinations, said

Abdul Wahid said that according to the Malaysian Palm Oil Board January 2024 report, palm oil exports are projected to grow by 3.3 per cent, reaching 15.60 million tonnes in 2024 from 15.10 million tonnes in 2023. "Palm oil exports also saw a 1.1 per cent decrease due to reduced demand, resulting in higher stocks,” he said.

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