PREVIEW-Malaysia's April palm oil stocks seen lower as exports jump

By Reuters8 days ago

By Mei Mei Chu

KUALA LUMPUR, May 5 (Reuters) - Malaysia's palm oil stockpile in April likely inched lower despite production rising to a six-month high, hampered by robust exports and plummeting imports, a Reuters survey showed on Wednesday.

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Inventories were seen declining 0.27% from the month before to 1.44 million tonnes, according to the median estimate of seven planters, traders and analysts polled by Reuters. MYPOMS-TPO

Output in the world's second-largest producer likely jumped 8.9% from March to 1.55 million tonnes, marking a second straight month of gain and hitting its highest since October. MYPOMP-CPOTT

The Malaysian Palm Oil Board's (MPOB) April data should be interesting as supply rebounds with East Malaysia now moving into a stronger production trend, said Marcello Cultrera, institutional sales manager and broker at Phillip Futures in Kuala Lumpur.

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