Palm oil production in Malaysia, the biggest supplier after Indonesia, probably dropped the most in seven months in September after reaching a record in August. Futures climbed the most in more than a week. Output slumped 11 percent to 1.81 million metric tons from an all-time high of 2.03 million tons, according to the median of seven estimates from planters, analysts and traders compiled by Bloomberg. Reserves were 2.05 million tons at the end of last month, the same level as a month earlier, the survey showed…Full Article: China Daily Oct 2014
- Palm oil is used in food, cosmetics and biofuels. Within Malaysia, Sabah State (northeastern Borneo Island) is the largest producing region.
- Malaysia and Indonesia are the dominant palm oil suppliers to China. Papua New Guinea was a noteworthy supplier, with China importing ~65,500 MTs in 2007. However, since 2008, import volumes have dropped to negligible levels.