Malaysia’s palm oil stocks fall to 10-month low
Palm oil stocks in Malaysia by the end of March sagged to the lowest level in the last 10 months amid a sharp increase in exports, the national MPOB (Malaysian Palm Oil Board) reported.
According to experts, palm oil residues in the domestic market are estimated at 1.71 million tons, which is 10.68% below the level of February this year.
At the same time, crude palm oil production (crude palm oil, CPO) increased by 10.57% to 1.39 million tons, while exports increased by 28.61% to 1.32 million tons.
Sunvin Group head of research Anilkumar Bagani says the MPOB report “is optimistic for the market”.
“CPO stockpiles are depleting rapidly and could be further reduced by the end of April. Malaysia’s production is expected to decline in the first half of April due to Ramadan holidays, while exports during this period are expected to be higher than last month,” he said.
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