February CPO stockpile to fall on floods

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KUALA LUMPUR: The February palm oil stockpile is likely to fall below January’s level of 1.83 million tonnes due to floods in various palm oil producing states. Plantation Industries and Commodites Minister Datuk Peter Chin said on March 5 the Malaysian Palm Oil Board was expected to release production figures for February on March 11. On the current price of RM1,800 for crude palm oil (CPO) , he said planters were already making money. At midday, CPO futures fell RM2 to RM1,869.