Africa Set To Become Key Driver Of Global Palm Oil Dynamics Over Next Decade - Expert
KUALA LUMPUR, Feb 10 (Bernama) -- The African region is set to become a key driver of global palm oil dynamics over the next decade, emerging as a major market for the commodity, an expert said.
Wilmar International Ltd chief sustainability officer Jeremy Goon Kin Wai said market players should shift their focus towards Africa, leveraging the region’s strong long term structural demand driven by population growth.
“Africa will shape palm oil demand dynamics for decades, as a consumer and producer. But unlocking this potential (market) demand, it depends on supportive and consistent policies, infrastructure and logistics, clear land governance, and pragmatic sustainability frameworks.
“With its population expected to double to around 2.5 billion in 2050 and about four billion by the end of the century … Africa will test whether palm oil remains competitive when affordability, regulations, and sustainability intersect, as the region leads to rapid urbanisation and rising food security needs,” he said in a panel session tittled ‘CEO Roundtable: The Next Decade for Malaysian Palm Oil.’ It was moderated by Malaysia Palm Oil Council (MPOC) chief executive officer Belvinder Sron at the 37th Palm and Lauric Oils Price Outlook Conference and Exhibition (POC) 2026, held here today.
FGV Holdings Bhd group chief executive officer Datuk Fakhrunniam Othman highlighted that land utilisation is a real constraint for the palm oil industry. He said there is a need to start assessing the availability of land in the world and how efficiently it is managed and used.
“Land exploration is no longer the main growth driver. The future lies in the possible new improvements, operational optimisation, and diversification that unlock the value. Ultimately, land strategy is not just about actors and productivity. It's about building resilience, creating a set of qualities, and supporting people and nation-building,” he added.
He advised that to achieve yield growth, the industry should focus on better planting and yield, efficient and well-planned replanting, and operational optimisation at the estate level.
-- BERNAMA