Malaysia end-August palm oil stocks jump 18% to 2.09 million tonnes, says MPOB
Malaysia’s palm oil stocks at the end of August climbed 18.16% from the previous month to 2.09 million tonnes, data from the industry regulator, the Malaysian Palm Oil Board (MPOB), showed on Monday (Sept 12).
Crude palm oil production rose 9.67% from July to 1.73 million tonnes, while palm oil exports fell 1.94% to 1.3 million tonnes, MPOB said.
A Reuters survey forecast inventories to jump 14.5% to 2.03 million tonnes. Production was seen 8% higher at 1.7 million tonnes. Exports was pegged 0.14% lower at 1.32 million tonnes.
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