Palm oil prices stay high despite mounting supplies

Crude palm oil production is up 4.4 per cent from October in Malaysia, according to the Malaysian Palm Oil Board, but this has not led to a fall in prices amid the current volatility of the crude and soya oil markets.

The total palm oil stock, including processed oil, increased 16 per cent to 1.81m tonnes.

However, the price of CPO per tonne averaged 31.62m ringgit (€6.5m), an increase of 6.57 per cent from the previous month. The cost further increased last month following a five week low, which had resulted from large fluctuations in the crude and soya oil markets.