Malaysia end-June palm oil stocks rose 8.8% to 1.66 million T - MPOB

KUALA LUMPUR : Malaysia's end-June palm oil end-stocks rose 8.76 per cent from the previous month to 1.66 million tonnes, data from industry regulator the Malaysian Palm Oil Board showed on Tuesday.

Crude palm oil production climbed 5.76 per cent from May to 1.55 million tonnes, while palm oil exports plunged 13.26 per cent to 1.19 million tonnes, MPOB said. A Reuters survey forecast inventories to climb 12.3 per cent to 1.71 million tonnes, its highest level in seven months. Production was seen up 8.3 per cent while exports were seen dropping 9.9 per cent.

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