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(OFFICIAL)-Malaysia's Felda says output of palm fresh fruit bunches has dropped 17 pct this yr

Reuters

(Corrects headline, first line to 'fresh fruit bunches' from 'palm oil', also shows that 17 pct drop is for year so far)

KUALA LUMPUR, May 16 (Reuters) - The chief executive of Malaysia's Felda Global Ventures Berhad, the world's third largest palm plantations operator, said on Monday the company's yields of fresh fruit bunches have dropped by 17 percent so far this year.

"Lower yields are due to the El Nino effect," newly-appointed chief executive Zakaria Arshad said at a media briefing.

Zakaria said crude palm oil prices are seen at 2,600 ringgit ($644.50) to 2,800 ringgit per tonne by August this year. They stood around 2,566 ringgit on Monday. ($1 = 4.0340 ringgit) (Reporting by Emily Chow; Editing by Joseph Radford)