Malaysia's December palm oil rises 7 pct month-on-month

10.01.2018

Malaysia's palm oil stockpile rose 6.97 percent to 2.73 million ton in December 2017, from 2.55 million ton in November, said the Malaysian Palm Oil Board's (MPOB) Wednesday.

According to MPOB, the crude palm oil (CPO) production fell 5.59 percent month-on-month to 1.83 million ton in December last year.

However, palm oil exports for the month rose 4.91 percent month-on-month to 1.42 million ton.

Malaysia is the world's second largest palm oil producer after Indonesia. The Malaysian government implemented a three-month suspension of export taxes on CPO this week, which analysts said might increase palm oil exports


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