KUALA LUMPUR: Malaysia’s palm oil stockpiles stood at 2.3 million tonnes at the end of October, down 4.1% from the previous month, industry regulator the Malaysian Palm Oil Board (MPOB) said on Monday.
October’s output in the world’s second-largest palm producer was down 2.5% at 1.8 million tonnes versus the previous month, while exports were up 16.4% from September, at 1.6 million tonnes, MPOB data showed.
A Reuters survey had forecast palm oil stockpiles at the end of October to rise 2.8% to a seven-month high of 2.52 million tonnes. Production was seen gaining 2% to 1.88 million tonnes, and exports were seen up 13.1%, at 1.59 million tonnes. -Reuters
