Malaysian palm oil production sees sharpest fall in eight years

In Malaysia, crude palm oil production fell in December to 1.36 million metric tons, down 22% from 1.75 million tons in November and the lowest fall seen in eight years. The cut in production is as a result of flooding in key oil palm regions, but even so the country’s palm oil marketing board doesn’t expect the drop to have much of an impact on prices, though it will impact producers who won’t be able to recoup losses, even with a surge in prices.