Palm oil price reaches record high
Gain Report;Oil Seeds and Products Malaysia: Palm oil prices reach record high
Malaysia's crude palm oil (CPO) production rose 2.7 percent to 1.6 MMT in September,bringing total CPO production for 2006/07 to 15.3 MMT. The increase in palm oil exports was offset by a bigger increase in CPO production, resulting in an increase in carryout stocks to 1.46 MMT at the end of September. Palm oil prices strengthened to a new record high for the year, in line with the increase in global soyoil prices. Post estimates CPO output at 4.2 MMT for the Oct-Dec period, bringing total CPO production for calendar year 2007 to 15.4MMT.
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