PETALING JAYA: The Malaysian Palm Oil Board or MPOB registered an increase in production for March, reaching 1.38 million tonnes, marking the start of this year’s seasonal uptrend with the fresh fruit bunch harvest rising month-on-month from March until September or October.
Kenanga Research said the crude palm oil (CPO) price held well in March at RM4,740 per tonne. However, as prices usually start bottoming out in February and as the Brazil soybean harvest starts now, edible oil prices should ease a little seasonally in the second quarter.
