General Ahmad Parveez Ghulam News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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FILE PHOTO: A worker unloads palm oil fruit bunches at a factory in Tanjung Karang, Malaysia August 14, 2020. REUTERS/Lim Huey Teng
KUALA LUMPUR (Reuters) - Malaysia’s palm oil inventories at the end of 2021 are projected to decline for a third consecutive year to 1.12 million tonnes, state agency the Malaysian Palm Oil Council (MPOC) said on Monday.
Stockpiles in the world’s second-largest producer plunged to 1.27 million tonnes last year due to a combination of labour and logistic challenges caused by the COVID-19 pandemic, and as wet weather conditions caused by La-Nina hurt yield.
The council is expecting a moderate recovery in exports and production this year while projecting month-end stocks to trend below 1.5 million tonnes for most parts of the year. ....

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