News Formal

Malaysia end-Oct palm oil stocks seen higher as exports plunge

  • 📰 staronline
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 75%

Business News News

Business Business Latest News,Business Business Headlines

KUALA LUMPUR: Malaysia's palm oil inventories likely rebounded at the end of October, lifted by a plunge in exports amid shrinking output.

Palm oil stockpile at the world's second largest producer is pegged to rise 3.4% to 1.81 million tonnes, according to a median estimate of nine planters, traders and analysts polled by Reuters.

The decline, much lower than historical trends, reflects the ongoing severe shortage of foreign workers, ageing trees due to slow replanting, slower new planting rates, and lower fertiliser input due to logistics issues, Ivy Ng, regional head of plantations research at CGS-CIMB Research, said in a note.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Global stocks mixed after weak banks earnings, oil reverses gains | Malay MailWASHINGTON, Nov 5 ― World equities markets fluctuated after hitting new records yesterday and ended mixed following the US Federal Reserve's decision to start scaling back its bond-buying programme this month. The Bank of England, in announcing it would keep interest rates on hold, also dashed...
Source: malaymail - 🏆 1. / 86 Read more »