KUALA LUMPUR (Jan 18): Palm oil production in Malaysia, the world's second-largest producer of the edible oil, will rise by 3% in 2018, an industry body forecasted on Thursday.
The Malaysian Palm Oil Board (MPOB) expects production to climb to 20.5 million tonnes from 19.9 million tonnes produced in 2017, the group's Director General Ahmad Kushairi said at an industry conference.
Malaysia's exports are forecasted to increase 5.1% to 17.4 million tonnes this year, while palm oil stockpiles are expected to drop 15.8% to 2.3 million tonnes, he said.
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