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Highlights

* Crude palm oil prices gained around 1.42% in one week period and over 12.72% gains seen in 3 Months period.

* Prices remained supported by Malaysia's end-September palm oil end-stocks fell 6.99% from the previous month to 1.75 million tonnes.

* Crude palm oil production declined 0.39% from August to 1.7 million tonnes, while palm oil exports surged 36.83% to 1.6 million tonnes, MPOB said.

* The Govt. has decided to impose stock limits on edible oils and oilseeds up to March 31, 2022. This decision has been taken to soften the prices of edible oils in the country and provide relief to consumers.

* The Ministry said that the stock limits will be decided by the respective state governments depending on local conditions. It has however decided to give exemption to importers and exporters subject to conditions.

* Exports of Malaysian palm oil products for October 1 – 10 fell 7.6 percent to 528,901 tonnes from 572,345 tonnes shipped during September 1 – 10, cargo surveyor Intertek Testing Services said.

* Post is adjusting its MY 2021/22 crude palm oil (CPO) production forecast down 1.5 million metric tons (MT) from the USDA Official estimate to 18.2 million MT.

* Acute COVID-19 related labor issues are expected to negatively impact the Malaysian palm oil industry as the Government of Malaysia (GoM) has not finalized a decision to allow foreign workers to work in the sector.

* As the price of CPO is expected to stabilize in 2022, CPO export is forecast to recover slightly to 16.5 million tons, though this recovery will continue to be restrained by production limitations.

* CPO production for MY 2020/21 is revised slightly to 17.9 million MT. Exports for MY 2020/21 are revised to 15.5 million tons, a drop of 0.6 million tons from the USDA Official estimate

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