KUALA LUMPUR : Malaysia's palm oil inventories at the end of May are set to fall for a sixth month out of seven, squeezed by declining production and as exports surged to the highest since December, a Reuters survey showed on Friday.
Production likely slipped 4 per cent to a three-month low of 1.4 million tonnes, due to fewer harvesting days after the Eid al-Fitr holidays to mark the end of the Muslim fasting month. Indonesia had on April 28 banned exports in a bid to secure domestic cooking oil supplies, but has now lifted the ban and is gearing up to resume shipments with a domestic sales ruling in place.
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