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Malaysian CPO Output Down in October
KUALA LUMPUR - Dec 5/06 - SNS -- Crude palm oil (CPO) declined 13% in October to 1.4 million metric tons (MT), according to the Malaysian Palm Oil Board (MPOB).
Output in Peninsular Malaysia dropped by 3.2% while East Malaysia's production fell 4.7%. Compared to October 2005, output during October 2006 was only marginally lower. CPO output is expected to experience a seasonal drop of 14% to 15% in the Oct-Dec quarter, bringing the total CPO output for 2006 to around 15.7 million MT.
Aided by stronger soyoil future prices at CBOT and the seasonal downtrend in CPO output, the monthly average CPO price soared from RM1,515/MT in October to RM1,709/MT in November 2006, reports the U.S. agricultural attache for the country.
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