Malaysian palm oil futures fell below MYR 3,400 a tonne, moving further away from a decade high of MYR 3,877 hit on January 6th, as inventories remain at high levels while global production is likely to recover in the second half of 2021. Meanwhile, Malaysia, which is the world’s second-largest palm oil producer, is taking legal action at WTO against the EU and member states France and Lithuania for restricting palm oil-based biofuels, saying it could create trade restrictions to the country’s palm oil industry.
