Palm Oil Prices Test Resistance despite Declining Exports and Higher Stocks

Declining demand and the ability to switch to soy bean oil has reduced the demand for palm oil. The Malaysia Palm Oil Board reported that total crude palm-oil production in November fell 19% from October to 1.65 million metric tons. In addition palm oil stocks rose 2.6% month over month and are now 28% higher year over year at 1.75 million tons. 

Concerns about reduced production…