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Malaysia end-June palm oil stocks rose 8.8% to 1.66mn T

KUALA LUMPUR: Malaysia’s end-June palm oil end-stocks rose 8.76% from the previous month to 1.66 million tonnes, data from industry regulator the Malaysian Palm Oil Board (MPOB) showed on Tuesday.

Crude palm oil production climbed 5.76% from May to 1.55 million tonnes, while palm oil exports plunged 13.26% to 1.19 million tonnes, MPOB said.

Palm oil may retest support at 3,782 ringgit

A Reuters survey forecast inventories to climb 12.3% to 1.71 million tonnes, its highest level in seven months. Production was seen up 8.3% while exports were seen dropping 9.9%.

Malaysia end-June palm oil stocks rose 8.8% to 1.66mn T

Source: Brecorder

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