https://opiej.mpob.gov.my Oil Palm Industry Economic Journal Tue, 28 Aug 2018 04:34:49 +0000 en-US hourly 1 https://wordpress.org/?v=7.0 https://opiej.mpob.gov.my/comparative-advantage-of-the-european-rapeseed-industry-vis-a-vis-other-oils-and-fats-producers/ Tue, 28 Aug 2018 04:34:49 +0000 https://opiej.mpob.gov.my/?p=170 Read more]]> Rapeseed production in Europe currently constitutes to nearly one-third of the world output of about 28 million tonnes although its area is three times smaller than that in China. This paper attempts to assess its competitiveness vis-à-vis 26 other oils and fats producing countries [with special reference to other rapeseed oil producers, the least cost producer of vegetable oil and Malaysia (in the production of palm oil)]. Three economic comparisons will be used, i.e.; economic advantage, comparative advantage and structural competitiveness.

]]> https://opiej.mpob.gov.my/short-term-and-long-term-projection-of-malaysian-palm-oil-production/ Mon, 27 Aug 2018 08:43:31 +0000 http://palmoilis.mpob.gov.my/prototype/opiej/?p=123 Read more]]> Forecasting is of fundamental importance in all of the sciences, including economics. As such, its accuracy is of obvious importance as the forecasts generated are normally being used as inputs to a decision-making process. Knowing this fact, most forecasters have been hard pressed to prepare the most realistic and accurate projections utilizing a variety of quantitative and subjective methodologies. Besides this concern and although it is extremely important to do their best to improve forecast accuracy, we must learn to accept the fact that forecast error is an unavoidable occurrence. Faced with this reality, the forecasters need to effectively capture, measure, report and utilize forecast error to its benefit. They will also keep on reviewing their models from which the forecasts are based on due to the ever changing environment and improving forecast accuracy through a variety of qualitative and quantitative techniques.

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