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Palm oil prices will be higher this year as El Nino is set to hit output: Golden Agri

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While the average age of palm trees in Indonesia is younger than those in Golden Agri's estates, the relatively older trees in Malaysia mean that growth there will be limited. On a net effect, therefore, the whole industry will see production slow by a similar proportion, according to Golden Agri's Richard Fung.

Singapore

PALM oil prices will be higher this year compared to the last, as the impact of a very severe El Nino last year cuts industry production by about 5-10 per cent, according to Golden Agri-Resources, the second-largest palm oil planter in the world by acreage.

This could

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