Malaysia's end-November palm oil stocks fall for the first time in six months

Published 2022년 12월 13일

Tridge summary

Malaysia's palm oil stocks saw a decrease for the first time in six months in November, according to the Malaysian Palm Oil Board. The stocks dropped by 4.98% from a three-year high in October, reaching 2.29 million tonnes, which is lower than the estimated 2.39 million tonnes by Reuters. The decrease in stocks was due to a production drop caused by heavy rains and flooding, which led to a 7.33% decrease in crude palm oil production. Despite the production drop, exports saw a slight increase of 0.92%, while imports decreased by 31.88%.

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Original content

KUALA LUMPUR (Dec 13): Malaysia's palm oil stocks at the end of November fell for the first time in six months as production slumped amid a slight pick-up in exports, data from the nation's palm oil board showed on Tuesday (Dec 13). Stockpiles in the world's second-largest producer eased 4.98% from a three-year high in October to 2.29 million tonnes, according to the Malaysian Palm Oil Board (MPOB). This was lower than a Reuters' poll estimating stockpiles would be at 2.39 million tonnes. Crude palm oil production, hampered by heavy rains and flooding in the Southeast Asian nation, shrank ...

Source: Theedgemarkets