MARKET DEVELOPMENT
Malaysia end-July palm oil stocks fall 7.3% to 1.5 mln T – MPOB
Malaysia end-July palm oil stocks fall 7.3% to 1.5 mln T – MPOB
11.08.2021 (www.reuters.com) - KUALA LUMPUR, Aug 11 (Reuters) - Malaysia’s end-July palm oil end-stocks fell 7.3% from June to 1.5 million tonnes, data from industry regulator the Malaysian Palm Oil Board (MPOB) showed on Wednesday.
Crude palm oil production declined 5.17% from June to 1.52 million tonnes, while palm oil exports fell 0.75% to 1.41 million tonnes, the MPOB said.A Reuters survey forecast inventories to rise 1.6% to 1.64 million tonnes. Production was seen shrinking 4% to 1.54 million tonnes. Exports were pegged to fall 4.2% to 1.36 million tonnes. (Reporting by Mei Mei Chu; Editing by Christian Schmollinger)