Malaysia end-Feb palm oil stocks shrink to 6-month low as output plummets

KUALA LUMPUR : Malaysia's end-February palm oil inventories tumbled to the lowest in six months as production and imports plummeted, data issued by the nation's palm oil board showed on Friday.

Stockpiles fell 6.56 per cent from January to 2.12 million tonnes, the lowest since August, according to the Malaysian Palm Oil Board . Hammered by seasonal flooding, crude palm oil production shrank to a one-year low. Output in the world's second-largest producer fell 9.35 per cent to 1.25 million tonnes, down for a fourth month.Inventories could fall below 2 million tonnes by the end of April, as exports climb after Indonesia restricted overseas sales, Ahmad Parveez Ghulam Kadir, director general of MPOB told Reuters this week.

Following is a breakdown of the Malaysian Palm Oil Board figures and Reuters estimates for February [PALM/POLL]:Stocks 2,119,509 2,206,039 2,268,198 1,518,238*indicates revised figures by the Malaysian Palm Oil Board

Ireland Ireland Latest News, Ireland Ireland Headlines

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

Malaysia end-Feb palm oil stocks drop 6.6% to 2.12 million T - MPOBKUALA LUMPUR : Malaysia's February palm oil end-stocks fell 6.56 per cent from the previous month to 2.12 million tonnes, data from industry regulator the Malaysian Palm Oil Board (MPOB) showed on Friday.Crude palm oil production declined 9.35 per cent from January to 1.25 million tonnes, while palm oil e
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »