Latest industry statistics released by the Malaysian Palm Oil Board (MPOB) on Wednesday showed local output dropped for a fifth straight month in February to 1.11 million tonnes – its lowest level in five years.
Low production keeps CPO prices near 13-year high
THE benchmark crude palm oil (CPO) futures contract on Bursa Derivatives was traded traded around the RM4,000-a-tonne level this week as labour shortages and bad weather in key plantation areas curbed production.
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