April 12, 2018 / 4:42 AM / 2 months ago

Global palm oil output forecast at 70.5 million tonnes in oil year ended Sept 2018: analyst Mielke

KUALA LUMPUR (Reuters) - Global palm oil production is expected at 70.5 million tonnes in the oil year ending in September 2018, analyst Thomas Mielke said at an industry event on Thursday.

A man assists trucks transporting palm oil fruit on a damaged road at Mesuji Raya village in Ogan Komering Ilir, South Sumatra province, Indonesia, January 11, 2017. Antara Foto/Budi Candra Setya/ via REUTERS/Files

In March, the editor of the Hamburg, Germany-based newsletter Oil World, forecast Malaysian production at 20.8 million tonnes in 2018, and Indonesia’s output at 38.8 million tonnes.

Indonesia and Malaysia produce nearly 90 percent of global palm oil.

Reporting by Emily Chow; Editing by Christian Schmollinger

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