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Southeast Asian palm oil suppliers are struggling with record output as plantations delay harvests and mills stall deliveries while storage tanks overflow. Malaysian stocks rose to 3 million tonnes in November, the highest in at least 18 years, and Indonesian stocks exceeded 4.4 million tonnes in October.
Benchmark palm futures are trading near three-year lows.
Swollen inventories and slow demand point to continued pressure on palm oil prices into 2019, which weighs on the vegetable oil complex and competes with soybean oil in feed and industrial markets.
thestar.com.myThe Star OnlineDec 14, 2018Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
