KUALA LUMPUR: Malaysian palm oil stocks are expected to be around 1.6 million metric tons this year, compared with 1.71 million tons in 2024, the Malaysian Palm Oil Board said on Tuesday.
MPOB director-general Ahmad Parveez Ghulam Kadir told an industry conference that production in the world's second-largest producer in 2025 should come in at 19.5 million tons, marginally higher than the 19.34 million tons in 2024.
The country's palm oil exports are expected to be 17.3 million tons in 2025, up from 16.9 million tons in 2024, Ahmad Parveez said.
He said crude palm oil futures are seen trading in a range of 4,000 ringgit to 4,300 ringgit per metric ton this year, compared with last year's average closing price of 4,128 ringgit.
Authorities would work with the local industry to meet global demand in a sustainable way that safeguarded the environment, Ahmad Parveez said.
"We are looking forward to a better outlook in 2025, the ministry and agencies will continuously collaborate closely to address environmental concerns while also promoting economic stability and social responsibility within the industry to foster a more sustainable and balanced future." - Reuters
