KUALA  LUMPUR – Besides the El-Nino happening in Southern Asia, the harvest of soybean is also suspected to be the competition of palm oil price and is also the cause of decreasing price of palm oil in Malaysia up to 15% in this year.

But Malaysia which becomes the second biggest producer of palm oil in the world, in the first semester 2014  between January to June, had increased its production to be 9,1 millions of tons from 8,4 millions of tons in the same period in last year.

"The output will be better. It shows the good sign by the addition of tow digits,” a trader in Malaysia Stock Exchange said as written in Reuters, Monday (4/8/2014).

He thought, in two or three months to go, Malaysia will produce palm oil closely 1,9-2,0 milions tons. In the last June, 2014 Malaysia’s share reached 1,66 millions.

Before it, Malaysia Palm Oil Board (MPOB) had targetted to produce 19,5 millions of tonss in this year. It will be a record than in 2013. (T3)