Reported 2 days ago
Malaysia's palm oil output is expected to drop for the fourth consecutive month in December due to heavy rainfall impacting harvesting, according to the Malaysian Palm Oil Board (MPOB). The rain not only hinders production but could also lead to a potential reduction of up to 20% if severe flooding continues. This decline comes at a time when palm oil inventories are already low, likely driving prices higher. The situation has been exacerbated by torrential rains that have caused significant flooding and damage across parts of Peninsular Malaysia.
Source: YAHOO