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KUALA LUMPUR, Nov 21 (Reuters) - Growth in palm oil production will be slow for the next few years, helping reduce stockpiles and boost prices, leading industry analyst James Fry said on Thursday.
Dry weather and lower fertiliser use - a move adopted by some growers to save costs - have affected output this year at top producers Indonesia and Malaysia, and will continue to be a factor in the coming years, Fry said at an industry conference.
Indonesia’s production this year may prove to be little changed from last year, while Malaysia will see some growth, Fry said.
Fry is the chairman of consultancy LMC International and his forecasts are closely watched in the palm oil industry. (Reporting by A. Ananthalakshmi; Editing by Jon Boyle)