Malaysia's end-Sept palm oil stocks seen hitting near three-year peak

KUALA LUMPUR : Malaysia's palm oil inventories at end-September likely swelled to their biggest in nearly three years amid peak production season, a Reuters survey showed on Wednesday.

Output in the world's second-largest producer rose for a fourth consecutive month. It grew 2 per cent to 1.76 million tonnes. India's imports of palm oil jumped in September to their highest in a year, boosted by strong demand for the tropical oil ahead of the festival season and a steep discount compared to rival oils.

Investors will watch for any announcement on an easing of China's zero-COVID policy during its ruling Communist Party's national congress beginning Oct. 16, a Kuala Lumpur-based analyst said.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

Malaysia's end-Sept palm oil stocks seen hitting near three-year peakKUALA LUMPUR : Malaysia's palm oil inventories at end-September likely swelled to their biggest in nearly three years amid peak production season, a Reuters survey showed on Wednesday.Stockpiles rose 8 per cent from August to 2.27 million tonnes, the highest since October 2019, according to the median est
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »