Malaysian palm stocks rise despite lower production as exports fall

In Malaysia, palm oil stocks are on the rise despite lower production from El Niño due to reduced demand from main importing countries like China. In June, stocks were more than 7% higher at 1.78 million metric tons. CPO stocks were 10% higher in June while processed palm oil stocks were nearly 5% higher. Meanwhile, CPO production rose 12% to 1.53 million tons. Exports remain just a trickle of 9,730 tons in June compared to more than 22,000 tons in May while imports have more than halved to 4,502 tons.