KUALA LUMPUR: Malaysia’s palm oil stockpiles fell to a 27-month low of 2.01 million tonnes by the end of December, down 11% from the previous month, industry regulator the Malaysian Palm Oil Board (MPOB) said on Friday.
A Reuters survey had forecast stockpiles to fall 8.5% to 2.06 million tonnes, their lowest since Sept 2017. December production in Malaysia, the world’s second-largest palm producer, was down 13% at 1.33 million tonnes versus the previous month, while exports fell 0.7% to 1.4 million tonnes, the MPOB data showed.
December production was forecast to fall 13% from November to 1.34 million tonnes, and exports were seen falling 5.9% to 1.32 million tonnes. -Reuters
