InfoSAWIT, KUALA LUMPUR – According to Malaysian Palm Oil Board (MPOB), the crude palm oil (CPO) production of the country increased 10% orto be 19,5 million tons, compared to 2016 production that reached about 17.5 million tons.
It happened for the increasing production in Malaysia last year. Still based on MPOB, by the end of November 2017, the production increased compared to the last two year -production that reached 2,56 million ton.
AsInfoSAWITquoted from The Star, the increasing stock in Malaysia pressed the price in the exchange. “The cheaper CPO price in 2017 might happen for the increasing production,” an analyst said.
Within the average price in 2017, it is predicted that in this year, the CPO could be about RM 2.800/ton, knowing that the soybean price would be expensive too.(T2)