Palm oil stocks in Malaysia increased by 13% over the month, but quotations have not yet reacted to this.

According to the Malaysian Palm Oil Board (MPOB), in November, the production of crude palm oil in Malaysia decreased by 5.3% compared to October (in October, the growth was +11%, in September -0.7%, in August +2.4%, and in July -7.09%) to 1.94 million tons, and exports decreased by 28.1% (+18.6% in October, +7.7% in September, -0.7% in August, and +3.82% in July) to 1.21 million tons, which led to a further increase in palm oil stocks in the country by 13% (the 9th consecutive month) to 2.835 million tons (in October +4.4%, in September +7.2%, in August +4.2%, in July +4%, and in June +4%). Based on these reports, January futures for palm oil on the Bursa Malaysia exchange decreased by only 1% to 4061 ringgits/ton or 986 $/ton, losing 1.2% in national currency over the month, but rising by 1.3% in dollar terms due to the strengthening of the ringgit. Traders are optimistic about increased demand in December-January, but competitive pressure from soybean and rapeseed oil is ...