Malaysia’s end-October 2024 palm oil stocks fall for first time since July

Malaysia’s palm oil stockpiles at the end of October this year fell 6.32 percent from the previous month to 1.88 million tonnes, marking the first decline in three months, industry regulator data showed on Monday.

Crude palm oil production in October fell 1.35 percent from September to 1.80 million tonnes, while palm oil exports rose 11.07 percent to 1.73 million tonnes, the Malaysian Palm Oil Board (MPOB) said.

Reuters forecast stockpiles at 1.92 million tonnes, production at 1.76 million tonnes and exports at 1.63 million tonnes.

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Tags: Malaysia, palm oil, stocks