Palm oil stockpiles in Malaysia, the world’s second-largest producer, rose 0.2 per cent in September compared with the previous month.

Inventory of the edible oil, used mostly in cooking, rose to 1,708,101 metric tons, the Malaysian Palm Oil Board said in a statement today.

Output fell 2.7 per cent to 1,562,912 tons, while exports rose 21.2 per cent to 1,467,705 tons.

Meanwhile, cargo surveyor Intertek said Malaysia’s palm oil exports fell 0.4 per cent in the first 10 days of October.

A total of 395,015 metric tons of the commodity were tracked on October 1 to 10, versus 396,684 tons in the same period in September. — Bloomberg

Source: Business Times