Webinar: Global Palm Oil Market - Statistics, Trends, and Outlook
Join our live webinar to get insights into the global palm oil market.
Hey everybody!
We are hosting a 40-minute live webinar on the global palm oil market.
Join us to get the main macroeconomic statistics around the production and trade, and talk over the challenges of coronavirus and the nearest future of the market.
We invite speakers from the industry to share their thoughts on how they are going through this difficult time.
Listen to stories from entrepreneurs from around the world and share yours!
Background
In March 2021, the futures price for crude palm oil reached its highest level of 954 US$/MT in 13 years, according to the Malaysian Palm Oil Council, March 23. This is due to limited supply from manufactures as a result of the COVID-19 pandemic.
Malaysia, the world's second-largest palm oil producer, faces severe labor shortages. Since the beginning of the pandemic, the country has stopped hiring foreign workers, and the former migrants have returned to their homeland. Malaysian suppliers have asked the government to fill a 50,000 labor shortage, which could lead to a 20% drop in palm oil production. They also ask to cut product taxes and invest additional funds in the industry.
Over the next two years, the rising demand from the world's two largest importers, India and China, is expected to become the main driver for the palm oil market growth. These economies recover, and rapid urbanization contributes to an increase in the need for food products.
Falling production and rising prices for sunflower oil, as a result of the sunflower harvest failed last year, could further fuel demand for palm oil.
Increasing tariffs for container transportation and a planned reduction of palm oil consumption in Europe could hamper the market growth. The Renewable Energy Directive (RED) II and other food safety regulations could decrease palm oil imports to the European Union and phases out the use of palm oil as biodiesel. In 2017, the European Parliament adopted a resolution that bans palm oil for biofuel production due to the large-scale deforestation and labor rights violations in Indonesia and Malaysia. Also, in 2019, the European Union imposed an import duty on Indonesian biodiesel.
Speakers
Executive Chairman & CEO
Fitrian is Global Envoy for Nature-based Solutions at IDH-Sustainable Trade Initiative, and Chairman of Executive Board and CEO of Inisiatif Dagang Hijau (IDH) Indonesia as well as Country Representative for IDH in Malaysia.
IDH drives sustainability from niche to norm; by convening companies, civil society organizations, governments and others in public-private partnerships. Together with partners, IDH designs, co-funds and prototypes new economically viable approaches to realize green & inclusive growth at scale.
Head of Logistic & Quality Control
Failure must be present in your life. Otherwise, you are not challenging yourself enough.
Astra Agro Lestari in Brief PT Astra Agro Lestari Tbk (the "Company") has been weathering the ups and downs of palm oil business for the last 31 years. It was started as a business unit of PT Astra International Tbk to develop 2,000 hectares of cassava plantation. Then it was transformed into a rubber plantation after seeing the rise of demand for rubber.
International Business Development Director and Human Rights Consultant
Her Royal Highness began as a Freelance Consultant in 2009, and subsequently created her first company EOB Management in 2013 supplying goods and services across US, Europe, Asia and Africa, and eventually expanded the business to form Infinity Links Management Limited in 2017.
ILM is a manufacturer and supplier of sustainable edible and non-edible refined Palm Oil, and biodiesel, for various industries including, Food & Beverage, Animal Feed, Soaps & Detergent, Oleochemical, Pharmaceutical, Biodiesel, and other Renewable Energy sectors.
Market Analyst, Editor
Ivan Borovoi is a market analyst and editor at IndexBox Inc.
For over 10 years now, IndexBox has been conducting market research, completing consulting work, and selling reports.
Managing Director, Regional Expertise Center, Central America & Caribbean at Solidaridad Network
Over the last 29 years, Michaelyn has worked at the intersection of sustainable development, agriculture & trade, delivering cutting edge solutions for transformative change. Along her professional path, she has served as a Peace Corps volunteer, an organic farmer in Washington state, as Guatemala Country Manager for a pioneering global organic & fairtrade spice & coffee company, and as Head of Producer Services in Latin America for Fairtrade International.
We enable farmers and workers to earn a living income, shape their own future, and produce in balance with nature by working throughout the whole supply chain to make sustainability the norm.
Sustainability and Corporate Communication Director | Palm Oil Value Chain | International Trade & Development
I’ve been working in and with the business sector for over 20 years, both in commercial roles and in the international commodity trade and development sector. This background provides me with the insights how business can leverage their markets for the change we seek in commodity value chains.
Natural Habitats Americas is committed to the production, collection, processing and trading of organic, fair trade and sustainable palm oil.
