MPOB palm oil supply and demand is encouraging

Data released by the Malaysian Palm Oil Board (MPOB) shows December crude palm oil (CPO) output shrank by 22% while exports managed to move fractionally higher in a month over month comparison with November. Thanks in a large part to monsoon flooding; December CPO output was at its lowest level since February of 2014. Exports are still weak, but at 1,519,549 MT they are almost identical to the 1,519,765 seen in December…