Malaysian crude palm oil enters low production period

Introduction: Agriculture counselor of the U.S Department of Agriculture reports MPOB of Malaysian palm oil bureau reported that Malaysian crude palm oil production in October increased by 3.7% to 1.14 million tons from 1.1 million tons in September In October, the crude palm oil production in Malay Peninsula increased by 1.4%, while that in East Malaysia increased by 7.7% Compared with October 2000, crude palm oil production decreased by 3.5% in October 2001 After nearly a year of peak crude palm oil production, palm trees show pressure In addition, from November to March next year, Malaysian crude palm oil production entered a seasonal low production period Palm oil exports rebounded after a temporary disruption to Pakistan's trade due to the war in Afghanistan, with palm oil exports registering a 38% increase in October Exports are expected to increase by 10% in November, with crude palm oil prices on the rise path for most of November The average price of crude palm oil rose 22% from $226 / ton in October to $276 / ton in November By comparison, the average price of crude palm oil in November 2000 was 212 US dollars / ton The average FOB price of RBD palm oil also increased from 235 US dollars / ton in October to 293 US dollars / ton in November Despite the significant increase in palm oil exports, this cannot offset the increase in inventories at the beginning of October As a result, the inventory carried forward at the end of October was 1.3 million tons But crude palm oil production is expected to decline in the next two months, and palm oil exports are expected to further increase, with crude palm oil storage stocks expected to decline to about 1.2 million tons by the end of December Preliminary official data showed that palm oil exports increased from 650000 tons in September to 900000 tons in October (author:) share to feed Weibo share to: