KUALA LUMPUR, Malaysia, March 11 (NNN-AGENCIES) – Malaysia’s palm oil stockpiles in Feb, rose 1.34 percent month-on-month, to 3.05 million tonnes, official data showed, Monday.
Malaysian Palm Oil Board data showed that, the palm oil inventory in Feb was still marginally higher than that of Jan, despite the palm oil production falling 11.1 percent month-on-month, to 1.54 million tonnes.
Meanwhile, palm oil exports in Feb remained lacklustre, slumping 21.38 percent month-on-month to 1.32 million tonnes.
The rising stocks and weak exports data are expected to continue to drag palm oil prices, which stood at 1,925 ringgit (471 U.S. dollars) per tonne as of last Friday.– NNN-AGENCIES
