Malaysian Palm Oil prices may remain steady in 2019: MPOC
Commodity Online | February 18 2019
UPDATED 14:52:18 IST

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Malaysian palm oil prices are set to hold steady in 2019 at an average of RM2,303 (US$565) a tonne, according to estimates by the Malaysian Palm Oil Council (MPOC).

Global Production of the tropical oil is expected to rise by 3 million tonnes to 72 million tonnes, MPOC said.

MPOC, Malaysia's key marketing agency for palm oil, has estimated Malaysia's production of palm oil at 20.2 million tonnes in 2019 and Indonesian production at 42.8 million tonnes.

Malaysia produced 19.5 million tonnes of palm oil last year, while Indonesia's 2018 output stood at 42 million tonnes, based on estimates by the Indonesia Palm Oil Association.

 

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