HAGL JSC, a real estate developer that’s transformed itself into Vietnam’s biggest listed farmer by acreage, is expanding overseas plantations and adding corn as it plans to list the agricultural unit in Singapore next year.
Palm oil production in Southeast Asia, the largest growing region, is at increasing risk from the probable onset of an El Nino later this year after estates were already hurt by dryness in the first quarter. Prices advanced.
Palm oil imports by India, the world’s biggest buyer, slumped for a third month in March as the highest prices in 18 months reduced appeal of the tropical oil used in everything from candies to noodles.
Palm oil stockpiles in Malaysia unexpectedly expanded in March, snapping a two-month decline, as production in the world’s biggest supplier after Indonesia climbed by the most since July. Futures dropped.
Palm oil stockpiles in Malaysia, the biggest supplier after Indonesia, probably declined for a third month in March, falling to the lowest level in three years, according to estimates compiled by Bloomberg.