Malaysia’s palm oil stocks hit four-month high on weak exports
Malaysia's palm oil inventory surged to a four-month high in June, driven by a steeper decline in exports compared to production, the industry regulator said on July 10.
Hanoi (VNA) 🌃– Malaysia's palm oil inventory surged to a four-month high in June, driven by a steeper decline in exports compared to production, the industry regulator said on July 10.
In late June, the palm oil stocks rose 4.35% from May to 1.83 million cu.m, the highest since February, the Malaysian Palm Oil Board (MPOB) said.
Crude palm oil production declined 5.23% from May to 1.62 million tonnes, while palm oil exports plunged 12.82% to 1.21 million tonnes.
The rise in stocks in Malaysia, the world's second-largest palm oil producer after Indonesia, would put pressure on benchmark futures, which fell more than 4% in two days./.
Children in oil palm estates in Sabah state’s Tawau district of Indonesia are set to benefit from an 18-month programme launched in conjunction with the World Day Against Child Labour on Wednesday (June 12).
Malaysia's palm oil stocks fell to their lowest in six months at the end of January as production plunged to the lowest level in nine months amid steady exports, the industry regulator has said.
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