Malaysia’s palm oil stockpiles rose for the first time in four months
In Ukraine, UkrAgroConsult reported that Malaysia’s palm oil stockpiles increased in April for the first time in the past four months amid higher production and weaker exports.
According to the Malaysian Palm Oil Board (MPOB), inventories at the end of the month reached 2.31 million tons, up 1.7% compared to March.
The main driver behind the increase was a significant rise in production. Crude palm oil output in April climbed 18.4% to 1.63 million tons, according to the report.
Malaysia’s palm oil exports fell by 14.3% in April to 1.3 million tons. One of the key reasons was lower demand from India, one of the world’s largest vegetable oil importers. Indian buyers reduced palm oil purchases due to high prices and a narrower discount compared to competing edible oils, it added.
Category: Food & Agriculture
