July palm oil stocks hit five-month high on rising output
Malaysia's palm oil stocks reached a five-month high in July, driven by production levels that outpaced export growth. Data from the Malaysian Palm Oil Board indicates a 3.32% increase in inventories compared to the previous month.
Why it matters
Palm oil is a critical global commodity, and fluctuations in Malaysian production significantly impact international food and biofuel markets.
KUALA LUMPUR: Malaysia’s palm oil stocks rose to a five-month high in July as production remained above rising export volumes, data from the industry regulator show.
Palm oil inventories rose 3.32% from the previous month to 2.63 million tonnes, the highest level since February, the Malaysian Palm Oil Board said.
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