Watch the 'Palm' world market
Mr. Vivatnaroj Saphsongsook, Secretary-General of the Office of Agricultural Economics, Ministry of Agriculture and Cooperatives, revealed that over the past five years, the world's oil palm production has increased by hundreds. 3.22 per year. Demand is expected to increase by an average of 1.98 per year, resulting in a 2.55 per cent decline in world market prices for palm oil.In 2017, world palm oil production was 62.32 million tonnes, up from 58.93 million tonnes (5.93%) in 2016 due to the recession. And with more rainfall.Because of the situation. While world demand for palm oil grew at an average of only 1.98 percent per year, global palm oil stocks remained at a high level of 7.73 million tonnes.The price of crude palm oil in the world market is expected to fluctuate between 21.00 - 23.00 baht per kilogram. Based on the projected production of palm oil, it is estimated that in 2017, the area will be 4.84 million hectares, an increase from 2016.
Oil palm production is 11.71 million tons, or 2.04 million tons of crude palm oil (17.45), with the highest output in the second quarter, reaching 3.83 million tons.At the end of June 2017, crude palm stock was 0.45 million tonnes, up from 0.27 million tonnes in the previous month (66.67%).In the second quarter, the average selling price of palm oil was 4.07 baht per kilogram, down from 5.38 baht per kilogram (24.33 percent) in the first quarter.This price is still higher than the production cost of the year 2017. The average cost of production is Baht 3.06 per kilogram, while the third and fourth quarters are expected to decrease. Palm Oil's stockThailand is expected to decrease (at the end of August, the stock is 0.43 million tons). In 2560, the average price of palm fruit is 4.20 baht.
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