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Palm Oil Production Seen Rebounding This Year: Godrej’s Mistry
By Phoebe Sedgman
(Bloomberg) -- Global production will rise 6m tons in 2016-17 oil year, Godrej International’s Dorab Mistry says in slides prepared for a presentation.
- Malaysia’s 2017 output est. at 19.5m tons, Indonesia production est. at 33.5m-34m tons in 2017
- India edible oil imports seen at 14.3m tons in 2016-17
- Compares with 14.95m tons est. in Nov.
- Demonetization has slowed business activity in India, has been bearish for vegetable oil imports
- Indonesia Estate Crop Fund can cover 200,000 tons/month of palm oil biodiesel
- Palm oil prices seen rising to ration demand
- End-Jan. stockpiles will be very tight
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