March 7, 2016

Seemingly exponential growth in demand palm oil slowed a little in 2015 as the market was buffeted by severe weather conditions, such as the El Nino effect, affecting production and at the same time a slump in global crude oil prices, to less than USD 30 a barrel, reducing demand for palm oil for biodiesel.

In 2015, Indonesia and Malaysia exported a total of 42.7 million tonnes of palm oil. In Indonesia, the forecast for 2016 is for a small increase in overall production to 33 million tonnes, from 32 million tonnes in 2015. This growth in production is based on new trees, planted in 2010-2011, coming to maturity. However, the El Nino phenomenon is expected the limit production growth.

Download the Focus on Palm Oil: SGS capabilities and teams (PDF 697 KB)

For further information, please contact:

Goh Benh Wah
Business Manager
SGS Malaysia
SDN BHD
t: +6 (03)31652318

Noro Hutomo
Business Manager
PT SGS Indonesia
t: +62 (0)21 781 8111 ext 230

SGS SA issued this content on 07 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 07 March 2016 14:25:23 UTC

Original Document: http://www.sgs.com/en/news/2016/03/focus-on-palm-oil