Malaysian palm oil price hit three-year low and seen heading down further

In Malaysia, crude palm oil prices hit their lowest since September 2015 on Monday to $444.37 in response to growing stocks—more than 6% higher in October than in September—fewer exports and rising production that was 6% higher on the month. Palm oil producers are already feeling the pinch from lower prices, and with prices expected to fall even further rounding out the fourth quarter, the situation could get tricky for some of the weaker companies. IOI Corp., for example, reported Q3 net profits fell 60% on the year.