 2009 can be considered a reasonably good year for the Malaysian palm oil industry. Overall exports increased, albeit slightly by 2.9%, to 22.4 million tonnes as substantial growth in several traditional markets outweighed the decline in other markets. However, export earnings from Malaysian palm oil and its products declined by 24% to RM49.59 billion from a record RM65.21 billion in 2008. This was mainly due to the lower traded price of crude palm oil which averaged RM2,244, compared with RM2,856 in 2008. - Datuk Lee Yeow Chor, Chairman
Stable CPO prices in 2009 encouraged sustained off take from importers. Determining factors such as large palm oil stocks, the state of global economy, and the credit squeeze on the back of the worldwide financial crisis continued to influence CPO prices throughout the year. With economic recovery in sight, though, 2010 offers better prospects.
Increase in demand from traditional markets such China, India and Pakistan in 2009 provided a good indication that the trend will continue into 2010. The Government has taken aggressive steps to promote Malaysian palm oil in these markets, while strengthening the presence of the commodity in others. - Tan Sri Datuk Dr Yusof Basiron, CEO
Download the full annual report to read the full statement by the Chairman and CEO. The annual report will also offer market overview, activities and market reports for various regions, promotional and other activities done by MPOC to strenghtened the image of Malaysian palm oil.
Click here to download - MPOC_Annual_Report_2009
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