Malaysia palm oil stocks up 19.4% m/m in April as production rebounds

KUALA LUMPUR: Malaysia’s palm oil stocks increased for a second consecutive month in April, rising 19.4% from March to 1.87 million metric tons on a robust recovery in production, data from the industry regulator showed on Tuesday.

Crude palm oil production was up 21.5% in April from March to 1.69 million tons, the second straight monthly increase and the highest level since November last year.

Malaysian palm oil gains

Palm oil exports also rose for a second straight month, increasing by 9.6% to 1.1 million tons, the Malaysian Palm Oil Board (MPOB) said.

A Reuters survey had forecast inventories at 1.79 million tons, with output seen at 1.62 million tons and exports at 1.1 million tons.