KUALA LUMPUR: Malaysia's palm oil stocks at the end of November fell for the first time in six months as production slumped amid a slight pick-up in exports, data from the nation's palm oil board showed on Tuesday (Dec 13).
Stockpiles in the world's second-largest producer eased 4.98% from a three-year high in October to 2.29 million tonnes, according to the Malaysian Palm Oil Board (MPOB).
This was lower than a Reuters' poll estimating stockpiles would be at 2.39 million tonnes.
Crude palm oil production, hampered by heavy rains and flooding in the Southeast Asian nation, shrank 7.33% to 1.68 million tonnes.
Exports rose slightly by 0.92% to 1.52 million tonnes while imports fell 31.88%.
Source : The Edge Markets