National Palm Oil Production Suffers Due to El Niño
2024-08-11 03:18:49
The National Federation of Palm Oil Growers (Fedepalma) reported a decrease in palm oil production during the first half of 2024, impacted by the El Niño phenomenon.
In June, production dipped to approximately 130 thousand tons, a 10 thousand ton decrease compared to the same month of the previous year. production declined by 6.7% compared to the first half of 2023.
Despite the decline, the southwestern regions of the country have maintained production levels above those of 2023. During the first six months of the year, palm oil sales reached 938 thousand tons, with 72% consumed domestically and 28% exported.
In the local market, palm oil primarily serves the edible oils and fats (49%) and biodiesel (43%) segments. For exports, 75% of production was directed towards Mexico, Brazil, and the Dominican Republic, due to the competitive pricing of the raw material in the country.
Ana María Córdoba, a reputation and image specialist at Fedepalma, emphasized the importance of this crop for the local economy and stressed the need for measures to mitigate the effects of climate phenomena on production.