Malaysia palm stocks fall to five month low at end-March

KUALA LUMPUR: Malaysian palm oil stocks fell to less than three million tonnes by end-March to their lowest in five months, as a surge in demand outpaced production gains, official data showed on Wednesday.

The fall in end-stocks could support benchmark palm oil prices, which have gained more than 5 % so far this month. Palm oil was last up 0.1% at RM2,214 ringgit a tonne at Wednesday’s midday break. “Exports were quite good due to Indian buying. This and next month summer in India, when they tend to buy more. Some exports were also due to Ramadan,” the trader said.

The MPOB data also showed that output in March rose to 1.67 million tonnes, up 8.3% from February and registering its first gain after four months of decline.

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 March palm oil stocks down 4.64pc | Malay MailKUALA LUMPUR, April 10 — Malaysia's total palm oil stocks in March 2019 fell 4.64 per cent to 2.92 million tonnes from 3.06 million in February 2019. Crude palm oil (CPO) stocks decreased 12.31 per cent to 1.69 million tonnes during the month under review from 1.93 million tonnes in the preceding...
Source: malaymail - 🏆 1. / 86 Read more »

Genting Singapore shares fall 7% to 3-month low after investment planSingapore shares had dropped, thus it would raise casino entry levels for citizens and permanent residents from April 4. More Bung Moktar
Source: fmtoday - 🏆 5. / 72 Read more »