Colombian palm oil production up 10 percent this year

Colombian palm oil production up 10 percent this year

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.

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