Crude palm oil (CPO) futures for third month delivery fell to a low of RM2,202 on Thursday morning, the lowest since November 2009.
Market data showed it was trading at RM2,208 at 11.02am, down RM14.
Bloomberg reported world stockpiles were poised to surge 21% to a record 9.5 million tons by the end of the 2013-2014 year and demand expanding 4.4%, the least in 12 years based on U.S. Department of Agriculture data.
Rising supplies of soybean oil will add to the glut, with U.S. growers set to reap their biggest-ever crop of the beans starting September, Bloomberg reported.
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