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Prices seen higher on El Nino-induced drought

KUALA LUMPUR -- Malaysia's palm oil production fell for the second month in a row, giving hope for an uptick in the price of the commodity, which has been under pressure due to slowing demand.

     Production of crude palm oil in December dropped 15.4% month-on-month to 1.4 million tons due to disruptions in harvesting during the year-end monsoon season, data released Monday by the Malaysian Palm Oil Board revealed. The fall was worse in November at18.8%.

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