Palm oil stocks to breach 2 million tonnes

Malaysian palm oil futures fell to a two-week low in late trade on Tuesday, dropping nearly 1 percent as the market was weighed down by expectations of rising production.

PETALING JAYA: Palm oil stockpiles are expected to breach the two-million tonne psychological level this month after steadily rising over the past four months.

Inventories of palm oil climbed 8.8% month-on-month to close at 1.94 million tonnes in August, the highest level since March 2016.