Palm oil industry growth slows due to sustainability, management constraints

News Image

By MG News | March 08, 2023 at 11:32 AM GMT+05:00

0:00

March 08, 2023 (MLN): The palm oil industry has lost its growth momentum due to the slow expansion of plantation areas, high input costs, and stringent sustainability standards, as well as insufficient replantings and management constraints that have resulted in below potential yields, Thomas Mielke, Executive Director of ISTA Mielke GmbH Oil World stated while speaking at the POC2023 conference in Kuala Lumpur.

Mielke expressed that the growth momentum of the industry has slowed down significantly.

He also highlighted that the expansion of plantation areas has reduced, and the high input costs, along with stringent sustainability standards, have deterred investors from investing in the industry.

"Insufficient replantings and management constraints have led to palm yields being below their potential," he noted. He further added that he expects the RBD palm olein free-on-board price to average $1,150 per ton for July/December this year.

The palm oil industry has been facing sustainability issues for quite some time now, with concerns being raised about deforestation, wildlife habitat destruction, and human rights violations. The industry has been taking steps to address these concerns, with companies and organizations implementing various sustainability standards and practices.

Despite these efforts, the industry still faces challenges, and experts like Mielke believe that the industry needs to do more to address these issues and attract investment.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 131,949.07
198.95M
0.97%
1262.41
ALLSHR 82,069.26
730.83M
0.94%
764.01
KSE30 40,387.76
80.88M
1.11%
442.31
KMI30 191,376.82
77.76M
0.36%
678.77
KMIALLSHR 55,193.97
350.11M
0.22%
119.82
BKTi 35,828.25
28.42M
3.64%
1259.85
OGTi 28,446.34
6.84M
-1.02%
-293.01
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,125.00 110,525.00
107,865.00
-2290.00
-2.07%
BRENT CRUDE 68.51 68.89
67.75
-0.29
-0.42%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 106.00 106.00
105.85
-2.20
-2.03%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.50 67.18
66.04
-0.50
-0.75%
SUGAR #11 WORLD 16.37 16.40
15.44
0.79
5.07%

Chart of the Day


Latest News
July 05, 2025 at 11:58 PM GMT+05:00

Weekly Market Roundup


July 05, 2025 at 02:57 PM GMT+05:00

National Savings Schemes see over Rs27bn inflow in May


July 04, 2025 at 10:16 PM GMT+05:00

CAT upholds CCP’s ruling against PREMA Milk


July 04, 2025 at 10:07 PM GMT+05:00

Gold price in Pakistan falls Rs1,500 per tola


July 04, 2025 at 08:01 PM GMT+05:00

TRG in Supreme Court



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg