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Malaysia Palm Oil Stockpile Down 6.3% At End-June, MPOB Says

Palm oil exports surged 24.9% from May to 1.71 million tonnes, according to MPOB data.

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Malaysia's palm oil inventories at the end of June fell 6.33% from the previous month, at 1.90 million tonnes, industry regulator the Malaysian Palm Oil Board (MPOB) said on Friday.

June crude palm oil production grew 14.2% from May to 1.89 million tonnes.

Palm oil exports surged 24.9% from May to 1.71 million tonnes, according to MPOB data.

A Reuters poll had pegged June inventories to fall 5% from the month before to 1.94 million tonnes. Production was forecast to grow 8%.

Exports were expected to surge 20.6%, hitting a 10-month high, as key buyers restock on the edible oil amid the easing of coronavirus restrictions.

(Reuters)


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Palm oil exports malaysia oil prices