Palm oil production is estimated to be 43.19 million MT in the world in 2008/2009, a growth of 4.6% on the year-on-year basis. Palm oil stock is predicted to be 4.7 million MT in the world at the end of the crop year, an increase of 13% on the year-on-year basis.
Palm oil production is estimated to be 19.7 million MT in Indonesia and 17.7 million MT in Malaysia in 2008/2009, up 7.7% and 0.8% respectively on the year-on-year basis.
Malaysia’s palm oil export price was $480 ~ 580/MT (FOB) at the end of Feb., down 3 ~ 5% from the month before. Considering the declining palm oil price in the international market, China’s palm oil price is surmised to follow suit.
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