Palm Oil Output Seen Slumping 20% After Malaysian Floods
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Palm oil output in Malaysia will decline this month and next as severe flooding disrupts harvesting in the largest exporter after Indonesia, exacerbating a seasonal drop in production, according to RHB Investment Bank Bhd.
Output may contract by as much as 20 percent in December from 1.75 million metric tons in November, according to Alvin Tai, an analyst at the bank who’s covered the plantation industry for 11 years. There’ll be a significant reduction in harvesting, he said by phone in Kuala Lumpur.