Malaysia’s palm oil stocks at the end of September rose 10.54% from the month before to 2.32 million tonnes, data from the Malaysian Palm Oil Board (MPOB) showed on Tuesday.
Crude palm oil production gained 2.59%% from August to 1.77 million tonnes, while palm oil exports ticked up 9.25% to 1.42 million tonnes, the industry regulator said.
Palm oil still targets 3,824-3,919 ringgit range
A Reuters survey forecast inventories swelling to a near three-year high of 2.27 million tonnes. Production was pegged at 1.76 million tonnes while exports were seen at 1.41 million tonnes.