Malaysia end-Feb palm oil stocks drop 6.6% to 2.12 million T – MPOB

KUALA LUMPUR : Malaysia’s February palm oil end-stocks fell 6.56 per cent from the previous month to 2.12 million tonnes, data from industry regulator the Malaysian Palm Oil Board (MPOB) showed on Friday.

Crude palm oil production declined 9.35 per cent from January to 1.25 million tonnes, while palm oil exports slipped 1.99 per cent to 1.11 million tonnes, MPOB said.

A Reuters survey forecast inventories falling to 2.21 million tonnes. Production, which has been declining since October, was pegged at a one-year low of 1.26 million tonnes. Exports were forecast at 1.14 million tonnes.

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