THE WHAT? Colombia’s palm oil yield is on course to reach 1.65 million tonnes this year, an increase of 10 percent on 2019 figures, according to a report published by Nasdaq.
THE DETAILS The world’s fourth largest producer of the commodity saw production rise 8 percent in the first half.
As Jens Mesa, President of the National Federation of Oil Palm Growers told Reuters, per Nasdaq, “It puts us on a path to recovery once again, compared to what we had last year when there was a contraction of production, and it has compensated in a way for what we’ve lost in price.”
THE WHY? The country’s producers’ association attributes the growth in output to an increase in workforce and maturation of previously planted crops.