According to experts of the Malaysia Palm Oil Board (MPOB), in April, palm oil stocks in the country decreased to the lowest level in the last 11 months amid declining exports and production volumes.
At the same time, the stocks of Malaysian oil have been declining for the third month in a row – in April by 10.54% per month, to 1.5 mln tonnes, which was the lowest since May 2022.
In addition, according to MPOB, palm oil production in April decreased by 7.13% month-on-month to 1.2 mln tonnes, the lowest since February 2022, due to seasonal factors.
Malaysia reduced palm oil exports by 27.78% to 1.07 mln tonnes, exceeding the previous estimates of traders and market operators, who estimated the monthly decline at 18%-21%. At the same time, the country reduced imports of the product by 15.3%.
Source: Apkinform
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