In Malaysia, The Edge Malaysia reported that Malaysia’s palm oil stocks rose in November to a more than 6-1/2-year high, as weaker exports coincided with the second-highest production ever recorded for the month, data from the industry regulator showed.
Malaysia’s palm oil stocks in November rose 13% from the previous month to 2.84 million metric ton, the highest since March 2019, the Malaysian Palm Oil Board (MPOB) said.
Crude palm oil production fell 5.3% in November from October to 1.94 million tons, but was still the highest November production recorded since 2017, the MPOB said.
Meanwhile, palm oil exports plunged 28.1% to 1.21 million tons, snapping two consecutive months of gains.
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Category: Food & Agriculture
