Malaysia Can Store 5.2 Million Tons of Palm Oil, Dompok Says

Malaysia can store 5.2 million metric tons of palm oil, according to Plantation Industries and Commodities Minister Bernard Dompok, puncturing speculation that capacity may be fully used after holdings advanced to a record.

“Although prices have not been upbeat over the last few weeks, demand remains strong,” Dompok told a conference in Kuala Lumpur today, before giving the storage-capacity estimate in a press conference, citing the Malaysian Palm Oil Association. That figure is more than twice the reserves held last month.