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Malaysia's January palm oil production smallest in five years

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Malaysia palm oil
Palm oil output   The MPOB data showed inventories dropped by 12.4%

Malaysia's palm oil production fell by 19.3%, month on month, in January, to 1.13m tonnes, the Malaysian Palm Oil Board (MPOB) said.

While a seasonal decline in output is expected - with Malaysian production typically bottoming out in March before recovering to a peak around September-October – the figure for last month was well below expectations of 1.20m tonnes.

The number also represented the smallest January output figure in five years for Malaysia, which is the second-ranked producing country, after Indonesia.

The report underlined expectations that Malaysia's palm oil output may decline this year, with the UK's AHDB bureau saying the data “support concerns that have been building about how much palm oil output could decline in 2016”.

In January, the MPOB data showed inventories dropped by 12.4% from December to a six-month low of 2.31m tones, some 80,000 tonnes below market expectations.

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