KUALA LUMPUR: Malaysia’s palm oil once again hit 4 weeks high ,As the low production concern due to the provoking floods situation . which hits seven states of malaysia Read More .
It squeezed and by slump in production, Stocks at the world’s second-largest producer are forecast to fall 4.9% from the previous month to 1.73 million tonnes, according to the median estimate of ten planters,
The Council of Palm Oil Producing Countries (CPOPC) estimates a sharp increase in demand due to economic recovery with China’s palm oil imports rising to 7.2 million tonnes in 2021/22, from 6.8 million tonnes in 2020/21
European Union’s imports increasing to 6.9 million tonnes from 6.2 million tonnes in 2020/21. Palm oil booked an over 30% gain in 2021,
It Having touched an all-time high of MYR 5,071 on October 20th as demand for edible oils rebounded and supply remained limited due to a shortage of workers in Malaysia and heavier rains than usual in key growing areas.
