Malaysian palm oil stocks rise to 4-month high on weak exports

Malaysia's palm oil stocks reached a four-month high in June, rising by 4.35% to 1.83 million tonnes, as exports declined more sharply than production, according to the Malaysian Palm Oil Board. The rise in inventories could put downward pressure on benchmark futures. Crude palm oil production decreased by 5.23% to 1.62 million tonnes, while exports fell by 12.82% to 1.21 million tonnes.

By Rozanna Latiff and Rajendra Jadhav KUALA LUMPUR/MUMBAI (Reuters) - Malaysia's palm oil stocks hit a four-month high in June, driven by a steeper decline in exports compared to production, the industry regulator said on Wednesday. Rising inventories in Malaysia, the world's second-largest palm oil producer after Indonesia, would put pressure on benchmark futures, which have fallen more than 4% in two days. Malaysia's palm oil stocks at the end of June rose 4.35% from May to 1.83 million tonnes, the highest level since February, the Malaysian Palm Oil Board (MPOB) said. in English). Crude palm oil production decreased 5.23% from May to 1.62 million tonnes, while palm oil exports fell 12.82% to 1.21 million tonnes. A Reuters survey predicted stocks of 1.83 million tonnes, with production of 1.62 million tonnes and exports of 1.24 million tonnes. "Inventories have risen as expected, but the build-up is worrying. Palm oil stocks are rising even before the start of ...