Malaysia’s palm oil stocks fall to lowest since August
Stocks of palm oil in Malaysia by the end of last month decreased to 1.91 million tons (-5.7% to the level of January). This is reported by Reuters with reference to a survey of market participants, who specify that the last time balances below the level of 2 million tons were recorded in August 2023.
According to experts’ estimates, crude palm oil (CPO) production in the country dropped by 6% to 1.32 million tons amid unfavorable weather conditions for harvesting at plantations in early February.
In addition, Malaysian palm oil exports slipped 15.81% to 1.14 million tons during the reporting period due to a narrowing spread to other oils, especially soybean oil, according to the survey.
TransGraph Consulting analyst Aditya Jeripotula believes that demand from India, China and the EU will be weak in the coming months due to the prevailing price environment in the market.
Demand from the Middle East is also likely to decline with the onset of Ramadan, she said.
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