Palm oil stockpiles may rise to 2.7 million tonnes

Rising stockpiles: CIMB Equities Research estimated that local palm oil inventories may have increased by 6 month-on-month to 2.7 million tonnes as at the end of December.

PETALING JAYA: Palm oil stockpiles, which is almost at a two-year high, may rise further to 2.7 million tonnes as at the end of December from 2.56 million tonnes in November last year.

CIMB Equities Research estimated that local palm oil inventories may have increased by 6% month-on-month (m-o-m) to 2.7 million tonnes as at the end of December.