MUMBAI (Commodity Online): Malaysia has lowered the crude palm oil production forecast to 17.8 million tons from 18.1 million tons due to the La Nina weather that is disrupting harvesting cycles.
According to IOI Corp., Malaysia's second-largest listed palm oil producer, heavier than expected rain fall is expected hurt the palm oil harvest.
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La Nina episodes are usually associated with above-normal rainfall.
Though the presence of a La Nina hampers harvesting activity, heavy rainfall augurs well for future palm yields.