Malaysia's October palm oil inventory up 7.63% on month at 2.72m tonnes

Malaysia's October palm oil inventory up 7.63% on month at 2.72m tonnes
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KUALA LUMPUR (Nov 12): The Malaysian Palm Oil Board (MPOB) said today that the nation's total palm oil stock increased 7.63% to 2.72 million tonnes in October 2018, from 2.53 million tonnes in the preceding month, as crude palm oil (CPO) production rose.

In a statement today, MPOB said total palm oil stock comprises CPO and processed palm oil. MPOB said CPO production increased 6.01% to 1.96 million tonnes, from 1.85 million tonnes.

According to MPOB, total palm oil stocks also rose as exports of the commodity fell. MPOB said palm oil exports decreased 2.97% to 1.57 million tonnes, from 1.62 million tonnes.