Malaysia's IOI Corp Expects Palm Oil Output To Grow 10%-13% This Year


Malaysian plantation company IOI Corporation expects palm oil production to grow between 10% and 13% this year as fresh fruit bunch yield recovers following waning El Nino weather conditions, its chief executive said Wednesday.

Price of crude palm oil should stay between 2,500 ringgit a ton and 2,650 ringgit per ton in the next three months, Lee Yeow Chor told reporters on the sidelines of an investor conference.

"I think the price will be well supported in the next three months based on current environment," Lee said.

The company has no plan to add to its plantation landbank as of now

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