POINTERS: Malaysian Palm Oil Industry Performance and What’s in Store for 2023

Datuk Dr. Ahmad Parveez is currently the Director General of Malaysian Palm Oil Board (MPOB). He was appointed as Fellow of Academy Science Malaysia in 2016 and Member of National Biosafety Board (2018 – 2022). In July 2021, he was appointed as a Member of the Science Council of Malaysian Agricultural Research & Development Institute (MARDI). He sits on various other Boards; Board of Trustee of Malaysian Palm Oil Council (MPOC, 2019 -2022), Board of Trustee of Malaysian Palm Oil Certification Council (MPOCC, 2019 - 2023) and Board of Trustee of Institute of Malaysian Plantation and Commodities (IMPAC). Datuk Dr. Ahmad Parveez was previously the Chairman of Genetic Modification Advisory Committee under the National Biosafety Board (GMAC, 2010 – 2018). Recently, Datuk Dr. Ahmad Parveez was appointed as an Adjunct Professor in the Department of Biological and Agricultural Engineering, Faculty of Engineering, University Putra Malaysia (UPM). He is also very active in various professional societies including as the President of International Society for Oil Palm Breeders (ISOPB), Chairperson for the Asian Section of American Oil Chemists’ Society (AOCS) and Board Member of The International Society of Biocatalysis and Agricultural Biotechnology (ISBAB).

Datuk Dr. Ahmad Parveez was born in Taiping, Perak and obtained his secondary education at Sekolah Menengah King Edward VII, Taiping. He graduated with Bachelor of Science (UKM) in Genetics, Master of Science (UKM) in Molecular Genetics and a PhD (UPM) in Plant Genetic Engineering. He has 32 years of experience in Plant Molecular Biology, Genetic Engineering and Biosafety. He developed world first transgenic oil palm in 1997. His interest is in genetic modification of oil palm, biosafety of living modified organisms and oil palm sustainability.

He has obtained a number of prestigious awards both locally and internationally. He has 17 patents filed and six of them have been granted. He has authored and co-authored almost 100 papers in refereed journals and more than 250 conference papers.

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The Malaysian palm oil industry experienced steady performance during January - September 2022 as compared to the same period in 2021. During the reference period, the CPO production increased marginally by 0.3% to 13.34 million tonnes as against 13.31 million tonnes in January - September 2021, while exports of palm oil slightly down by 0.3% to 11.23 million tonnes from 11.26 million tonnes in the corresponding period in 2021. The supply and demand situation of palm oil in 2022 have loosen the palm oil stock situation in the country. The stock level in the period of January - September 2022 were at a range of 1.47 to 2.32 million tonnes, an increase of about 2.0% - 31.8% vis-à-vis the corresponding months of 2021, except for May 2022 in which the palm oil stocks were down by 3.0%. Despite the growth, the situation of palm oil stock within that period is still considerably tight. This tight supply situation has helped prices of palm oil and other palm-based products to hike to the new record of highest level in the palm oil history in May 2022. During the period, CPO price was traded higher by 29.6% or RM1,245.00 to RM5,452.00/tonne as against RM4,207.00/tonne in the same period in 2021. Despite the slightly lower export volume, the higher prices of palm oil and other palm-based products has influenced total export revenue of palm oil and other palm-based products in January - August 2022 to surge by 48.8% to RM94.84 billion from RM63.74 billion in January - August 2021. This paper will further provide the details of the performance of the Malaysian oil palm industry for the first nine months of 2022, as well as highlights the expected developments that could influence the business landscape of the industry for the year 2023.

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