News

Malaysia’s palm oil stocks fall to 10-month low as exports surge

Palm Kernel Oil
Malaysia
Market & Price Trends
Published Apr 17, 2024

Tridge summary

Malaysia's palm oil reserves have dropped to a 10-month low at the end of March, with a 10.68% decrease to 1.71 million metric tons, as reported by the Malaysian Palm Oil Board (MPOB). This decline is primarily due to a surge in exports by 28.61% to 1.32 million tons, which surpassed the 10.57% increase in crude palm oil production. The reduction in palm oil stocks is expected to positively influence the market, potentially boosting benchmark futures that have recently reached a one-year peak. However, this bullish outlook might be tempered by an anticipated rise in soybean oil exports from South America, especially since soybean oil is currently more affordable than palm oil.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Malaysia’s palm oil stocks at the end of March dropped to their lowest in 10 months as a jump in exports offset a rebound in production, the industry regulator said on Monday. The reduction in stocks in Malaysia, the world’s second-largest palm oil producer after Indonesia, would help in supporting benchmark futures FCPOc3, which rose to a one-year high earlier this month. Malaysia’s palm oil stocks at the end of March fell 10.68% from the previous month to 1.71 million metric tons, their lowest since May, data from the industry regulator the Malaysian Palm Oil Board (MPOB) showed. Crude palm oil (CPO) production gained 10.57% from February to 1.39 million tons, while palm oil exports ticked up 28.61% to 1.32 million tons, the MPOB said. A Reuters survey forecast March inventories at 1.79 million tons, a 6.65% decline from the previous month, with output at 1.38 million tons and exports at 1.23 million tons. The MPOB report is bullish for the market, Anilkumar Bagani, research ...
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.