Malaysia end-May palm oil stocks rise 0.5% to highest in 3 months

Malaysia’s palm oil stocks at the end of May rose 0.5% from the previous month to 1.75 million metric tons, the highest in three months, data from the industry regulator showed on Monday.

Crude palm oil production gained 13.48% from April to 1.70 million tons, the biggest volume in six months.

Palm oil exports also rose to a six-month high of 1.38 million tons, up 11.66% from April, the Malaysian Palm Oil Board (MPOB) said.

A Reuters survey had forecast May inventories at 1.75 million tons, with output at 1.65 million tons and exports at 1.41 million tons.
Source: Reuters (Reporting by Danial Azhar; Editing by Martin Petty)