SINGAPORE: Malaysia’s April palm oil stocks likely fell to their lowest in nine months, with domestic consumption and lower exports outstripping a rise in output, a Reuters survey of five plantation companies showed.
Inventory levels may have dropped 6.1% to 2.04 million tonnes, which would be the fourth straight monthly decline and the lowest level since last July. It would also be the closest stocks have come to the two-million tonne mark, a key psychological milestone, after hitting a record 2.63 million tonnes in December.
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