Global 2011 Palm Oil Output At New High

Global calendar year 2011 palm oil output is likely to rise by 3.2 million tonnes against 2010 to a new high of 49.4 million tonnes, Hamburg-based oilseeds analysts Oil World forecast Nov. 9. This would follow an estimated 1.1-million-tonne increase expected in 2010 to about 46.2 million tonnes, Oil World said. “Palm oil production prospects are favourable for 2011,” it said. “Following two years of sizably below-average growth there is a very high possibility of an above-average growth of production in Jan./Dec. 2011.” – Reuters

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