The palm kernel oil production in Malaysia stood at 2.4358 million metric tons in 2023. From 2013 to 2023, the industry experienced fluctuating year-on-year variations, with 2023 seeing a 1.2% increase from the previous year. Over the last five years, the average annual growth rate (CAGR) was 1.15%. Future production is forecasted to grow at a CAGR of 0.95% through 2028, marking a 4.83% growth over the next five years.
Future trends to watch for:
- Environmental sustainability practices impacting production methods
- Global demand fluctuations influenced by economic conditions
- Technological advancements in extraction processes
- Changes in government policies and international trade agreements
