Malaysia March Palm Stocks Fall 7.5 Percent

Palm oil stockpiles in Malaysia, the world’s second-largest producer,

declined 7.5 per cent in March compared with the previous month as

exports jumped.

Inventory of the edible oil, used mostly in

cooking, fell to 1.65 million metric tons from 1.79 million tons in

February, the Malaysian Palm Oil Board said in a statement today. That’s

the lowest level since September 2009.

Output climbed 20 per

cent to 1.39 million tons from a revised 1.16 million tons in February

and exports gained 7.7 per cent to 1.39 million tons from 1.29 million

tons, according to the board.

The shipments exceeded March

estimates by two independent cargo surveyors that release preliminary

data five times a month. Exports rose 12 per cent to 1.35 million tons,

Intertek said on March 31. Societe Generale de Surveillance estimated a

gain of 7.7 per cent to 1.35 million tons. — Bloomber

Source : Business Times


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