Malaysia's palm oil stocks to hit two-year low after output falls

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KUALA LUMPUR: Malaysia's palm oil stocks are set to fall to 1.5 million metric tons by the end of February,  their lowest level in nearly two years, as floods have hit production and the Ramadan festival has boosted demand, a senior regulatory official told Reuters.

Widespread flooding has hit regions across Malaysia since November last year, displacing more than 90,000 people.

"This is the time where we will see buying increase, which I believe will keep prices stable and bring down stock levels," he said.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaIndiaIndonesia

Topics: Commodities /Business/Business News Palm oil

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-24 @ 20:17:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 347 words

Reading Time: 2 minutes read

Sentences: 14 lines

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Copyright Owner: © The Star

News ID: 26374083

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