KUALA LUMPUR (Aug 10): Malaysia’s July palm oil stockpile rose 16.83% to 1.78 million tonnes, from 1.53 million tonnes in June, as output rose faster than exports, according to the Malaysian Palm Oil Board (MPOB).

The country's palm oil inventory comprises crude palm oil (CPO) and processed palm oil. MPOB said in a statement today that CPO output increased 20.67% to 1.83 million tonnes, from 1.51 million tonnes.

Meanwhile, palm oil exports climbed 1.31% to 1.4 million tonnes, from 1.38 million tonnes, it said.

The country's 16.83% July palm oil stockpile rise followed June's 1.94% drop, MPOB added.