Palm oil stocks in Malaysia fell to the lowest since August
Source: oleoscope.com
Palm oil reserves in Malaysia decreased to 1.91 million tons by the end of last month (-5.7% compared to January). This is reported by Reuters with reference to a survey of market participants, who specify that the last time residues below the level of 2 million tons were recorded in August 2023.
According to experts, the production of crude palm oil (CPO) in the country fell by 6% to 1.32 million tons amid adverse weather conditions for harvesting on plantations in early February.
In addition, according to the survey, the export of Malaysian palm oil in the reporting period sank by 15.81% to 1.14 million tons due to a reduction in the spread to other oils, especially soybean.
TransGraph Consulting analyst Aditya Jeripotula believes that demand in India, China and the EU will be weak in the coming months due to the current price environment in the market.
In her opinion, demand from the Middle East is also likely to decrease with the onset of Ramadan.
In addition, according to the survey, the export of Malaysian palm oil in the reporting period sank by 15.81% to 1.14 million tons due to a reduction in the spread to other oils, especially soybean.
TransGraph Consulting analyst Aditya Jeripotula believes that demand in India, China and the EU will be weak in the coming months due to the current price environment in the market.
In her opinion, demand from the Middle East is also likely to decrease with the onset of Ramadan.
