Palm oil stocks in Malaysia by the end of January fell to their lowest level in almost six months. The figures for the month fell 0.66% to 2.18 million tons, according to a Reuters poll of market participants.
The production also continued to fall by 14.1 percent to 1.39 million tons, one of the lowest levels in a year, experts said, as plantation harvesting in Malaysia was hampered by weather.
Exports fell nearly 22% to 1.15 million tons due to sluggish demand from India and China.
According to industry experts, demand for Malaysian “palm” may increase in the coming months, as importers will build the necessary amount of stocks of this product in anticipation of the month of Ramadan.
Analysts of the national MPOB (Malaysian Palm Oil Board) are planning to publish official data on stocks, production, exports, and imports of palm oil on February 10.
