Palm oil inventories up in May

Rising stockpiles: Workers stand near palm oil fruits at a palm oil factory in Sepang. According to a survey, Malaysia’s palm oil stockpiles rose 0.6 in May from a month earlier to 1.61 million tonnes. — Reuters

KUALA LUMPUR: Malaysia’s monthly palm oil inventories probably rose to the highest level since December as production in the world’s second-largest grower reached a seven-month high.

Stockpiles rose 0.6% in May from a month earlier to 1.61 million tonnes, according to the median estimate of eight planters, traders and analysts surveyed by Bloomberg.