Malaysia’s severe drought in the
first three months of 2014 will have a negative impact on palm
oil production into early 2016 even after rain returned in the
second half of March, industry researcher Oil World predicted.
After “very good” rains in the first two weeks of April,
reservoir levels are still critically low, causing persisting
moisture shortages in many oil-palm growing areas, the Hamburg-based researcher wrote in an e-mailed report. Malaysia’s Pahang state, which accounts for about 15 percent of the country’s palm oil output, had 25 percent of normal rain in March and 54 percent in the first quarter, according to Oil World. The country on average received 70 percent of usual rainfall in January-March, Oil World data show.
“Rains finally started to arrive in many parts of Malaysia from mid-March onward, bringing much needed relief to the severely depleted soil moisture and water supplies,” Oil World wrote. “However, in several areas rainfall was still insufficient as of end-March.”
The lack of rain will have a negative impact on production in the October-December period due to dropped young fruit bunches as a result of drought stress, Oil World said. There will be an impact in late 2015 and early 2016 as well due to a higher share of male flowers related to the dryness, it said.
To contact the reporter on this story: Rudy Ruitenberg in Paris at rruitenberg@bloomberg.net
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