KUALA LUMPUR : Malaysia's palm oil stocks at the end of February contracted 2per cent from the previous month to 1.52 million tonnes, data from the industry regulator, the Malaysian Palm Oil Board showed on Thursday.
Crude palm oil production declined 9.26per cent from January to 1.14 million tonnes, while palm oil exports fell 5.3per cent to 1.1 million tonnes, MPOB said. A Reuters survey forecast inventories to drop to 1.38 million tonnes in February, the lowest in more than 10 months. Production was seen shrinking to 1.19 million tonnes. Exports were seen higher at 1.25 million tonnes.
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