3:48 AM
McGhori
KUALA LUMPUR: Malaysia’s January palm oil stocks slipped to a five-month low as a decline in production outpaced a drop in exports, industry regulator Malaysian Palm Oil Board said on Friday.
Stocks in the world’s No 2 producer of the edible oil fell 2.5 per cent to 2.0 million tons from December last year, almost matching market expectations of a 2.2 per cent drop.
The still-high inventories can potentially shore up global edible oil supply in the wake of erratic weather affecting soy crops in South America.
Benchmark palm oil futures on the Bursa Malaysia Derivatives Exchange may come under some pressure after losing 0.8 per cent at midday ahead of the data release.
“Stocks are still around 2 million tons which is...
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