Malaysia palm oil output at 7-month low in Sept: survey

Kuala Lumpur

PALM oil production in Malaysia, the biggest supplier after Indonesia, probably dropped the most in seven months in September after reaching a record in August.

Output slumped 11 per cent to 1.81 million metric tons from an all-time high of 2.03 million tonnes, according to the median of seven estimates from planters, analysts and traders compiled by Bloomberg. Reserves were 2.05 million tonnes at the end of last month, the same level as a month earlier, the survey showed. Stockpiles surged 22 per cent in August to the highest since March 2013, according to the Palm Oil Board, which is scheduled to release the latest data on Oct 10.