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Annual Report 2023

November 6, 2024

In 2023, the Malaysian Palm Oil (MPO) industry presented a complex landscape. Although crude palm oil (CPO) production rebounded, the industry faced a small decline in exports and a significant drop in prices. CPO production totalled 18.55 million tonnes and experienced a slight recovery of 0.53% in 2023, compared to 18.4 million tonnes recorded in 2022. This increase was attributed to improved labour availability, particularly among harvesters and fresh fruit bunch (FFB) collectors. This marks a positive development, especially considering the acute labour shortage encountered by the Malaysian oil palm industry in recent years, compounded by the post-COVID-19 recovery phase.

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