Malaysia's Palm Oil Stockpiles Rise Despite Jump in Exports

Malaysia's palm oil stocks rose in July despite a significant jump in exports. The Malaysian Palm Oil Board (MPOB) reported that crude palm oil production increased, leading to a rise in stockpiles by 3.32% to 2.63 million tonnes.

Crude palm oil (CPO) stocks saw the largest increase at 7.24%, rising from 1.33 million tonnes in June to 1.43 million tonnes in July. However, processed palm oil stockpiles eased by 0.99% to 1.20 million tonnes.

Palm kernel output also rose significantly, with crude palm kernel oil production jumping 14.55% and palm kernel cake output climbing 10.11%. Palm oil exports increased 14.50% in July to 1.39 million tonnes, while palm kernel oil exports edged down by 1.73%.