15/03/2013 (Bernama) - The current lower price of crude palm oil (CPO) will help reduce Malaysia's high stock which has surpassed two million metric tonnes.

Kuala Lumpur Kepong Bhd Chief Executive Officer Tan Sri Lee Oi Hian said the low price was well supported by big discounts as compared to soybean oil.

" It is obvious that the lower price will be the best solution to ease the country's high CPO stocks," he told reporters after attending the Global Malaysia Series here today.

Lee said the government's Biofuel 5 (B5) and Biofuel 10 (B10) programmes will also reduce the high stocks but more time was needed.

CPO price remained above RM2,300 a tonne yesterday but the commodity's price was on a down trend over the past few weeks.