10/05/2010 (Bloomberg) - Palm oil stockpiles in Malaysia, the world’s second-largest producer, fell for a second month as output declined.

Inventory of the edible oil fell 2 percent to 1,622,538 metric tons from a revised 1,655,748 tons in March, the Malaysian Palm Oil Board said in a statement today.

Output dropped 5.84 percent to a one-year low of 1,306,228 tons from a revised 1,387,234 tons in March. Exports fell 8.17 percent to 1,282,867 tons from a revised 1,396,949 tons in March.

The official export data was higher than the forecasts of two independent cargo surveyors. The preliminary estimate from Societe Generale de Surveillance was 1.22 million tons, and from Intertek 1.18 million tons.

July-delivery palm oil was little changed at 2,516 ringgit ($785) a metric ton on the Malaysia Derivatives Exchange at the 12:30 p.m. trading pause. The statistics were released during the break.