In Ukraine, UkrAgroConsult reported that Malaysia’s palm oil stocks are expected to decrease in the coming months, reaching approximately 1.7 million metric tons by year-end, driven by a seasonal slowdown in production and rising exports due to festive season demand, according to the Malaysian Palm Oil Board (MPOB).
Palm oil production in Malaysia typically declines toward the end of the year following a robust third quarter. In August, palm oil stocks rose 4.18% month-on-month to 2.2 million tons, the highest since December 2023, MPOB data showed. “Production is gradually slowing, and we anticipate exports to increase in the coming months due to festive season demand,” said Ahmad Parveez Ghulam Kadir, MPOB’s director-general,
Palm oil prices have been under pressure recently due to a sharp drop in soyoil prices, making palm oil less competitive. This has prompted India, the top palm oil buyer, to increase soyoil purchases for the coming months. However, prices are likely to remain firm due to uncertainties surrounding Indonesian supplies, Kadir noted.
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Category: Food & Agriculture
