Wednesday, May 5, 2010

Breaking News-RTRS-Palm oil stocks to fall, output sluggish-Oil World

HAMBURG, May 4 (Reuters) - A rise in global calendar year 2010 palm oil output will raise stocks, Hamburg-based oilseeds analysts Oil World forecast on Tuesday.
It estimated global 2010 palm oil production at 46.9 million tonnes, up 1.6 million tonnes on the year, but lagging sharply behind rises of 2.0 million tonnes in 2009 and 4.4 million tonnes in 2008.
Of the 2010 output rise, Oil World estimated only 100,000 tonnes will come from key exporter Malaysia and 1.2 million tonnes from Indonesia.