[Back]   [Comments]  [Print]

NEWS ADMIN

Mahamad Rodzi Abdul Ghani

DATE

08/02/2005

NEWS PROVIDER

Mahamad Rodzi Abdul Ghani

NEWS SOURCE

AFX

CATEGORY

HEADLINE

Malaysia's palm oil assn says palm oil stockpile '
6/2/05 KUALA LUMPUR (AFX) - The issue of an increasing palm oil stockpile,resulting in the current downward spiral in crude palm oil (CPO) prices,must not be 'overplayed' as the commodity is fundamentally supported byencouraging global supply and demand factors, the Star reported.It quoted Malaysian Palm Oil Association's Chief Executive MR Chandran assaying: 'I do not consider the current stockpile of 1.5 mln tons high asMalaysia's average palm oil monthly exports are between 1.1 mln and 1.3mln tons. If one were to compare this export figures of 1.3 mln tons withthe current stocks of 1.5 mln tons, the stockpile is not excessive atall.'