KUALA LUMPUR: Primary Industries Minister Teresa Kok is optimistic that the palm oil price will improve in the coming months.
Palm oil stocks in Malaysia, the world’s second-largest producer, fell 6.62 per cent to 2.73 million tonnes in April 2019 from 2.92 million tonnes in March 2019.
“Currently, there is an excess of edible oil. That is why our palm oil price has been a bit low (as well), but I believe in coming months it will be rectified. I believe the palm oil price will come up again,” she told reporters after attending the ‘Palm Oil Student Ambassador’ programme here yesterday.
Other edible oils such as soybean oil and rapeseed were also experiencing lower prices, she said when asked on the price outlook for palm oil amid a lower stock that was reported in April. — Bernama