Palm Oil Internet Seminar

Second Half 2015 - Anticipating Market Price Direction:
2015 USA Oils and Fats Outlook
By: Mr. Mohd Izham Hassan

Mohd Izham Bin Hassan graduated from the Southern New Hampshire University, USA with a Bachelor of Science Degree Majoring in Economics & Finance in May 1990. Having started his career in the banking sector with Maybank, he moved on to join one of the biggest plantation companies in Malaysia heading the insurance unit. Among his responsibilities were the procurement of the group insurance requirement and to ensure adequacy of cover for company’s risk exposure. Due to his knowledge in this field, he was assigned to the committee to set up the Enterprise Wide Risk Management (EWRM) programme for the company. He was also assigned to conduct research on production, compile data on estate land bank and liaise with regulatory bodies on submission of monthly statistics. He has more than 15 years of experience in the plantation industry and prior to joining Malaysian Palm Oil Council, he was the Head of the Statistics Department of a major insurance company in Malaysia. He has presented papers at MPOC organised seminars in Philippines, Myanmar, Vietnam and Singapore. He is currently the Manager, Marketing & Market Development Division at Malaysian Palm Oil Council (MPOC) responsible for market movement of global oils and fats.
The USA is the one of the biggest oils and fats producers as well as consumers in the world. Despite being the largest soybean producer, production is still insufficient to cater for domestic requirements and the USA needs to import oils and fats. Based on USDA’s Prospective Plantings report, farmers indicated that they would plant 84.6 million acres of soybeans in 2015/16 and if realized, this year’s acreage would exceed the 2014/15 record by nearly 1 million acres.

This paper will look at the USA’s oils and fats consumption in 2015 and the food consumption and market trends in the USA in 2015. We will analyse issues that will have impact on the changing pattern in oils and fats intake in the USA and how palm oil can play a role in complementing the USA’s oils and fats requirement in 2015.

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Questions & Answers (2) :
Izham Hassan
9 years ago
Dear Mr. Raid, Thank you for your question. Canada is quite different from the US although they are bordering each other. Canada mainly produces rapeseed while the US are soybean producers. US oils and fats production in 2014 was 16.9 million MT while consumption was 19 million MT or 89% of the domestic requirement and thus they need to import the balance. Canada on the other hand produced in 2014 almost 4 million MT oils and fats and consumed 1.65 million MT. Canada also exported almost 2.7 million MT in 2014 making them a net exporter of oils and fats while the USA is a net importer.
Mohamad Raid Majzoub
9 years ago
Dear Mr. Mohd Izham Hassan Thank you for your presentation, is Canada situation similar to USA?
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