How much is the global palm oil market worth in 2021?
The global palm oil market was valued at $63.7 billion in 2021 is expected to continue to grow to reach $98.9 billion in 2030, according to a report published in May from Grand View Research, a global market research firm. That¡¯s because palm oil is relatively inexpensive and ¡°so damn good at what it does,¡± Ticku said.
Which FMCG companies are affected by rising palm oil prices?
Leading FMCG companies, including GCPL, Dabur, and Marico, foresee margins and profits being affected due to rising palm oil prices, higher input costs, and increased advertising expenses in the September quarter.
Are we concerned about the sustainability of the oil palm industry?
Though we are happy at the moment, we are concerned about the sustainability,¡± Pullaiah, an oil palm farmer from Badradri Kothagudem district, told businessline.
How will palm oil prices affect GCPL earnings?
Godrej Industries Group’s FMCG arm GCPL said it expects a "flattish" earnings growth in the domestic market in the September quarter as higher palm oil prices added to input costs. "Palm input costs have been rising since March and have risen in the high teens as of date.