MPOB: Malaysia’s palm oil stocks hit four-month high in June on weak exports

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Malaysian Palm Oil Board MPOB News

Palm Oil Stocks,Malaysia

KUALA LUMPUR, July 10 — Malaysia’s palm oil stocks surged to a four-month high in June, driven by a steeper decline in exports compared to production, the industry regulator...

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The rise in stocks in Malaysia, the world’s second-largest palm oil producer after Indonesia, would put pressure on benchmark futures, which fell more than 4 per cent in two days. Crude palm oil production declined 5.23 per cent from May to 1.62 million tons, while palm oil exports plunged 12.82 per cent to 1.21 million tons,A Reuters survey forecast inventories at 1.83 million tonnes, with output at 1.62 million tonnes and exports at 1.24 million tonnes.

 

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