Top Stories
Top Stories
Wires

Malaysia end-June palm oil stocks fall to 2.42 mln tonnes - MPOB

KUALA LUMPUR, July 10 (Reuters) - Malaysia's palm oil stockpiles at the end of June eased 0.97% from the previous month to 2.42 million tonnes, industry regulator the Malaysian Palm Oil Board (MPOB) said on Wednesday. Output in June in the world's second largest palm producer fell 9.2% month-on-month to 1.52 million tonnes, while exports dropped 19.4% from May to 1.38 million tonnes last month, according to the MPOB data. A Reuters survey had forecast palm oil's stockpiles at end-June to fall 4% to 2.35 million tonnes. Production was seen dropping 8% to 1.54 million tonnes, while exports were expected to decline 19% to 1.39 million tonnes. The following is a breakdown of the Malaysian Palm Oil Board figures and Reuters estimates for June:

(volumes in tonnes)

June 2019 June 2019 poll May 2019 June 2018Output 1,518,239 1,538,000 1,671,467 1,332,704Stocks 2,423,615 2,350,000 2,447,441 2,204,187Exports 1,382,761 1,386,624 1,711,882 1,129,518Imports 101,250 61,951 61,789 85,889

(Reporting by Emily Chow; Editing by Christian Schmollinger)