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24 Feb - 01 Mar 2020
Section 1 : CPO Price Trend
24 Feb - 01 Mar 2020
Section 2: Global Palm Oil Market Opportunities
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Anticipating 2014 Palm Oil Price Direction:
Global Oils and Fats Outlook 2014
Tan Sri Datuk Dr. Yusof Basiron
TAN SRI DATUK DR. YUSOF BIN BASIRON aged 66, a Malaysian. He is presently holding several important positions which include: i. Chief Executive Officer of Malaysian Palm Oil Council (MPOC) ii. Director of Sime Darby Berhad iii. Chairman and Director of CBIP Berhad Apart from holding distinguished corporate positions, he is also involved in other organizations which are: (i) Senior Fellow and Past President of Academy Sciences Malaysia (ASM) (ii) Fellow member of Malaysia Scientific Association (MSA) (iii) Fellow member of Malaysian Oil Scientists' and Technologists' Association (MOSTA) (iv) Fellow member of the Incorporated Society of Planters His notable academic achievements are as follows: i. In 1972, he obtained his Bachelor in Chemical Engineering Degree from the University of Canterbury, New Zealand; ii. In 1974, he obtained his Post-Graduate Degree in Rubber Technology (ANCRT) in the United Kingdom; and iii. In 1976, he obtained his Masters Degree in Engineering specializing in Industrial Management (M.E.) and also in Business Administration (MBA) from the Catholic University of Leuven in Belgium. Before he joined Palm Oil Research Institute of Malaysia (PORIM) in 1979, he held the position of Rubber Technologist/Techno-Economist with the Rubber Research Institute (RRI)/Malaysian Rubber Research Development Board (MRRDB). In 1986, he completed his doctorate with a PhD in Applied Economics and Management Science from the University of Stirling, Scotland. He was later appointed as the Director-General of PORIM in 1992. He held the position for 8 years until April 2000 before assuming the role of the Director-General of Malaysia Palm Oil Board (MPOB), an organization which existed as a result of a PORIM and Palm Oil Registration and Licensing Authority (PORLA) merger, from 1 May 2000 until 18 January 2006.
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For the year 2013, global oils & fats production is estimated at 189 million MT compared to the 186 million MT in 2012 which would be an increase of 1.6% in oils and fats production. For 2014, the global oils and fats production is poised to exceed 190 million MT and palm oil again will be at the forefront of this increase in production.

Global palm oil production for 2013 is estimated at 56 million MT, compared to 53.7 million MT in 2012 reflecting an increase of 4.3%. The top two palm oil producing countries, Malaysia and Indonesia will contribute to 85% of the total global palm oil production and the importance of both countries cannot be overlooked as they contribute to almost 30% of the total global oils & fats production.

The price of crude palm oil in the beginning of 2013 was RM2,500/MT and fluctuated erratically from a low of RM2,167/MT in July to a high of RM2,670/MT in December. Among the reasons for the downward trend were the concern over the high stock levels of palm oil especially in the first quarter and the lower export figures reported by Malaysia in the second quarter of 2013. Nevertheless, demand by major consumers such as China, Pakistan and Iran has seen steady increases and this kept price fluctuation to a small range.

This paper will analyse issues that will affect palm oil price in 2014. The regional analysis on the demand and supply of oils and fats scenarios will be aggregated at the global level to forecast the demand and supply balance in 2014.

We use the Stock Usage Ratio (SUR) as our basis to determine the price forecasts as it is a useful indicator to show demand and price directions for 2014.
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Now
15 - 30 Nov 2020
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