Malaysia’s December palm oil stocks fell to 28 month low

In Malaysia, the Malaysia Reserve reports that the national palm oil inventory fell to the lowest seen in 28 months in December to just 2 million metric tons, down 11% from November’s 2.26 million tons compared to the market’s expectations of an 8%-9% drop, and a sharp drop from 3.2 million tons in December 2018. December production fell more than 13% from November while exports of palm oil were flat and biodiesel exports reached the highest seen since March at 44,904 tons.