Malaysia end-Dec palm oil stocks down 12.9% to 1.58mn T

KUALA LUMPUR: Malaysia's December palm oil end-stocks plunged 12.88% from the previous month to 1.58 million tonnes, data from industry regulator the Malaysian Palm Oil Board (MPOB) showed on Monday.

Crude palm oil production slumped 11.26% from November to 1.45 million tonnes, while palm oil exports fell 3.48% to 1.41 million tonnes, MPOB said.

A Reuters survey forecast inventories declined 4.9% to 1.73 million tonnes, a five-month low. Production was pegged at 1.49 million tonnes while exports was seen at 1.4 million tonnes.