KUALA LUMPUR: Malaysia's palm oil stocks at the end of August rose to their highest since January, higher than market expectations, data from the Malaysian Palm Oil Board (MPOB) showed on Monday.
Inventories jumped 22.5% in the world's second-largest producer of the commodity to 2.12 million tons, the data showed.
A Reuters survey of 11 traders and analysts had forecast inventories growing to 1.89 million tons.
Crude palm oil production gained 8.9% from July to 1.75 million tons in August, while palm oil exports fell 9.78% to 1.22 million tons, MPOB said.
Production was seen at 1.72 million tons, while exports were expected to drop to 1.33 million tons, according to the Reuters survey.
Following is a breakdown of the Malaysian Palm Oil Board figures and Reuters estimates for August (volumes in tons):
- Reuters
