Malaysia’s end-July palm oil stocks rose 7.71% from the previous month to 1.77 million tonnes, data from industry regulator Malaysian Palm Oil Board (MPOB) showed on Wednesday (Aug 10).
Crude palm oil production climbed 1.84% from June to 1.57 million tonnes, while palm oil exports grew 10.72% to 1.32 million tonnes, the MPOB told Reuters.
A Reuters survey had forecast inventories to climb 8.3% to 1.79 million tonnes, its highest level in eight months. Production was expected to increase 2%, while exports were seen up 2.2%.
