Colombian palm oil production seen up 10% on year

In Colombia, Reuters reports palm oil production will jump 10% this year to 1.65 million metric tons thanks to a larger work force and more trees to harvest. Last year’s production fell 9% against the year prior but production was already up 8% this year through June, giving hope for continued increase. The COVID-19 pandemic hit biofuel consumption but producers chose to drop prices to boost demand which helped to offset potential losses and they have come through alright.