KUALA LUMPUR/MUMBAI : Malaysia's palm oil stockpiles slipped in November for a second consecutive month, as production dropped more than expected to its lowest level for the month in four years, according to the country's industry regulator on Tuesday.
KUALA LUMPUR/MUMBAI : Malaysia's palm oil stockpiles slipped in November for a second consecutive month, as production dropped more than expected to its lowest level for the month in four years, according to the country's industry regulator on Tuesday.
Malaysia's palm oil stocks at the end of November fell 2.6 per cent to 1.84 million metric tons from the prior month, the Malaysian Palm Oil Board said. A Reuters survey had forecast inventories at 1.79 million tons, with output seen at 1.69 million tons and exports at 1.52 million tons. "Palm oil is struggling to attract fresh buying from destinations markets due to its vast premium over competing soyoil," he said.
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