Oil World sees palm oil production jumping to nearly 75 million tons in 2018/19

In Malaysia, Reuters reports that Oil World believes palm oil production will see a big jump to nearly 75 million metric tons this year compared to 70.5 million tons during 2017/18, but even so, the analyst expects prices to rise over the next six to 10 months because the vegetable oil is very undervalued. Indonesian biodiesel production is expected to rise this year to 7.5 million tons while Malaysia should hit 1.4 million tons in response to higher mandates in both countries.

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