Financial Daily from THE HINDU group of publications
Friday, May 24, 2002
Financial Daily from THE HINDU group of publications Friday, May 24, 2002 |
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Agri-Biz & Commodities
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Oilseeds & Edible Oil Erratic rainfall may lower Malaysian palm oil yield Our Bureau
MUMBAI, May 23 LOWER rainfall, less fertiliser and replanting are expected to reduce Malaysia's palm oil prospects in the current year, as forecast yield is 3.75 tonnes per hectare, down from 4.06 t/ha of 2000-01, in terms of rainfall regression model used by the US Department of Agriculture (USDA). In three out of the last four quarters, rainfall has been below normal in Malaysia. Variable rainfall results in a mixed situation for palm oil yield prospects. Current harvest yields are influenced by soil moisture conditions from previous 24 months. Using estimated area of 3.31 million hectares and yield projection of 3.75 t/ha, crude palm oil output during 2001-02 marketing year (October-September) should be 12.4 million tonnes. The official USDA forecast for Malaysia's crude palm oil production is however lower at 11.9 mt. June 2002 is the last month for oil palm growers to fell or replant their old palms to be eligible for the 1,000-ringgit ($263) per hectare replanting incentive. This Government incentive may have temporarily reduced harvested area more than is indicated by currently available data, USDA said. Further, a reduction in use of fertiliser reportedly has occurred due to low palm oil prices, which dropped below Malaysian ringgit 1,000 per tonne, f.o.b.Malaysia for most of 2001.
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