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Drought, El Nino could cause spike in palm oil prices

Dry weather could hit Indonesia, Malaysia production by as early as Sept: analyst

Jakarta

SOUTH-EAST Asia's booming palm oil industry is facing a double blow from a recent drought and a possible El Nino weather phenomenon later this year, with analysts warning that a production shortfall could spark a jump in consumer goods prices.

From biscuits to shampoo and make-up, the oil has become a key ingredient in numerous products found on supermarket shelves across the globe, fuelling rapid growth of the industry in the world's top two producers, Indonesia and Malaysia.

But a drought...

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