Krungsri Research：2020-2022年泰国棕榈油行业展望报告（英文版）（11页）.pdf

1、THAILAND INDUSTRY OUTLOOK 2020-22PALM OIL INDUSTRYChaiwat S+662 296 2000 Ext.50880January 20203,732,35901Krungsri ResearchIn 2020-2022,the palm oil sector is expected to register sluggish growth on the back of weaker demand.In addition,oil palm prices would continue to be pressured by oversupply as

2、cultivated area had continued to grow since 2009 and global inventory levels are high.At the same time,domestic players have to contend with higher production costs than competitors abroad,growing concerns over the environmental and health impact of oil palm cultivation and consumption,and over a sl

3、ightly longer time horizon,the trend towards electric vehicles.However,these headwinds will be partly offset by government support for the sector,specifically measures to encourage the switch to B10 as standard diesel mix and passage of the new Oil Palm and Palm Oil Act.1/Palm oil may be extracted b

4、oth from the oil palm fruit and from the oil palm kernel.At present,extraction of oil from palm fruit accounts for 89.4%of world palm oil production.2/Yields(Output per rai)for particular types of vegetable oil are:oil palm:512 kg/rai;oil palm kernels:73 kg/rai;rapeseed:89 kg/rai;sunflower seed:81 k

5、g/rai;coconut:54 kg/rai;soy:52 kg/rai;and peanut:51 kg/rai.3/Generally,palm mills are located close to plantations since the palm fruits need to be processed within 24 hours of harvesting to guarantee high-quality oil.OverviewPalm oil1/yield per unit of land is 6-10 times2/higher than for other oil

6、crops such as soy,rapeseed,sunflower,coconut and olive.This means oil palm has the lowest production cost among vegetable oils.In 2018,global production and consumption of palm oil reached 70.6 million tonnes and 66.4 million tonnes,respectively.These represent 39.7%and 38.6%of total global vegetabl