July palm stocks likely to show first gain in 5 months

In Malaysia, a Reuters survey of seven planters shows that palm oil stocks rose to 2.47 million metric tons as of the end of July, up 1.8% on the month and the first increase in five months. Stocks were around 3 million tons earlier in the year which weighed heavily on prices but have been falling steadily over the past several months which in turn saw prices rise by 9% during the period. July likely saw the largest jump in monthly production levels in 10 months to 1.69 million tons, more than 11% higher than in June.