KUALA LUMPUR: Palm oil inventories in Malaysia, the world’s second-largest producer, likely plunged to their smallest in over two years in December as output weakened to an 18-month low.
That could add fuel to the rally in benchmark futures in Kuala Lumpur. Prices have surged to a three-year high on concerns over a supply squeeze due to lower production and higher biofuel consumption in the world’s top growers Indonesia and Malaysia. The tropical oil climbed 44% in 2019, its biggest gain in a decade.
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