Mistry cuts palm oil production forecast, sees prices climbing

Dorab Mistry cut his 2017 palm oil production forecast for Malaysia to 19.1-19.3 million tons from 19.8-20 million, and for Indonesia to 34-34.5 million from 34.5-35 million. He said output in both countries likely peaked in mid-2017, and that world production will rise only 4.5 million tons this year rather than nearly 7 million.