Malaysia to miss estimated palm oil output
Thursday, 16 December 2010
KUALA LUMPUR, Dec 15 (Commodity Online): Malaysia, the world's second largest of crude palmoil producer after Indonesia, will miss projected output of 17.5 million metric tons in 2010 due to an acute shortage of labour and as the annual monsoons slow harvesting, an industry official said.
Oil-palm yields in Indonesia and Malaysia have shrunk this year because of dryness caused by El Nino and heavy rain brought on by La Nina. Output in Malaysia last month dropped to a five-month low and stockpiles slid for the first time in four months, the nation's palm oil board said.
Malaysian production declined 11 per cent to 1.46 million tons last month from 1.64 million tons in October, according to the board.
Oil-palm yields in Indonesia and Malaysia have shrunk this year because of dryness caused by El Nino and heavy rain brought on by La Nina. Output in Malaysia last month dropped to a five-month low and stockpiles slid for the first time in four months, the nation's palm oil board said.
Malaysian production declined 11 per cent to 1.46 million tons last month from 1.64 million tons in October, according to the board.