Malaysian palm oil futures rose to a fresh record high above MRY 4,700 per tonne in October, lifted by expectations that higher prices of oil and shortages of canola would push more biodiesel feedstock demand towards palm oil, along with shrinking inventories and output disruptions in the two world’s largest producers Indonesia and Malaysia. Malaysia’s palm oil inventories at the end of September are likely to drop from a 14-month peak hit in August, as skyrocketing exports offset a small rise in production. No 2 producer Malaysia has been affected by labor shortage as oil palm estates dependent on foreign workers struggle with a shortage of manpower amid Covid-19 while in Indonesia heavy rains slow down harvesting.