Section 1: Price Direction:
Malaysian Palm Oil Performance and Prospects for 2021
Dr. Ahmad Parveez Bin Ghulam Kadir
Dr. Ahmad Parveez is currently the Director General of Malaysian Palm Oil Board (MPOB), effective 10th August 2019. He was appointed as Fellow of Academy Science Malaysia in 2016 and Member of National Biosafety Board (2020 – 2022). He sits on various other Boards; Board of Trustee of Malaysian Palm Oil Council (MPOC, 2020 -2022), Board of Trustee of Malaysian Palm Oil Certification Council (MPOCC, 2019 - 2021) and Board of Trustee of Institute of Malaysian Plantation and Commodities (IMPAC). Dr. Ahmad Parveez was previously the Chairman of Genetic Modification Advisory Committee under the National Biosafety Board (GMAC, 2010 – 2018). He is also very active in various professional societies including as the President of International Society for Oil Palm Breeders (ISOPB) and Chairperson for the Asian Section of American Oil Chemists’ Society (AOCS).
Dr. Ahmad Parveez was born in Taiping, Perak and obtained his secondary education at Sekolah Menengah King Edward VII, Taiping. He graduated with Bachelor of Science (UKM) in Genetics, Master of Science (UKM) in Molecular Genetics and a PhD (UPM) in Plant Genetic Engineering. He has 32 years of experience in Plant Molecular Biology, Genetic Engineering and Biosafety. He developed world first transgenic oil palm in 1997. His interest is in genetic modification of oil palm, biosafety of living modified organisms and oil palm sustainability.
He has obtained a number of prestigious awards both locally and internationally. He has 17 patents filed and six of them have been granted. He has authored and co-authored more than 80 papers in refereed journals and more than 250 conference papers.
The Malaysian oil palm industry experienced mix performance in 2020 as compared to that of in 2019. At the beginning of the year, the industry has experienced slowdown in production, export demand and prices, due to COVID-19 pandemic, coupled with other factors. Approaching the second half, the industry situation has improved with the re-opening of the global economic sectors, the relaxation of movement restrictions and the Malaysian government’s initiative to exempt the export duty of CPO, CPKO and RBDPKO from 1 July to 31 December 2020 under the National Economic Recovery Plan (PENJANA). Overall, the year 2020 saw mixed performance of the Malaysian palm oil industry. CPO production declined by 3.6% to 19.14 million tonnes as against 19.86 million tonnes in 2019 while exports of palm oil down by 7.0% to 16.22 million tonnes from 17.43 million tonnes in 2019 primarily due to lower palm oil production and weaker demand especially from major importing countries. On the other hand, the lower palm oil production in 2020 has brought down the stock level with palm oil closing stocks for December 2020 lower by 37.0% to 1.27 million tonnes vis-à-vis 2.01 million tonnes in December 2019. Consequently, oil palm products were traded higher in 2020 as against 2019 with local CPO price increased by 29.2% to RM2,685.50 per tonne as compared to RM2,079.00 per tonne in 2019. Meanwhile, total export revenue of palm products increased by 8.4% to RM73.25 billion from RM67.55 billion in 2019. With the improved Malaysian palm oil industry performance in the second half of 2020, the year 2021 is expected to bring a brighter prospect for the palm oil industry primarily driven by the expected firmer palm oil prices and better palm oil production and demand to generate higher export revenue for the palm oil industry in 2021.
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