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Malaysia end-May palm oil stocks fall 10.3% to 2.45 mln tonnes - MPOB

KUALA LUMPUR, June 12 (Reuters) - Malaysia's palm oil stockpiles at the end of May dropped 10.3% from the previous month to 2.45 million tonnes, industry regulator the Malaysian Palm Oil Board (MPOB) said on Wednesday. Production in May rose 1.3% month-on-month to 1.67 million tonnes. Exports climbed 3.5% from April to 1.71 million tonnes last month, according to the MPOB data. A Reuters survey had forecast palm oil's stockpiles at end-May to fall 9.7% to 2.46 million tonnes. Production was seen dropping 2% to 1.61 million tonnes, while exports were pegged to rise 3.3% to 1.71 million tonnes. The following is a breakdown of the Malaysian Palm Oil Board figures and Reuters estimates for May:

(volumes in tonnes)

May 2019 May 2019 poll April 2019 May 2018Output 1,671,467 1,616,146 1,649,278 1,525,405Stocks 2,447,441 2,464,500 2,729,389 2,170,431Exports 1,711,882 1,706,500 1,651,249 1,290,601Imports 61,789 74,000 61,112 32,260

(Reporting by Emily Chow; Editing by Sherry Jacob-Phillips)